UK retail sales show Easter rebound in April: CBI

LONDON Thu Apr 24, 2014 6:10am EDT

A pedestrian walks past a shop window in Royal Tunbridge Wells, southern England August 15, 2013. REUTERS/Neil Hall

A pedestrian walks past a shop window in Royal Tunbridge Wells, southern England August 15, 2013.

Credit: Reuters/Neil Hall

LONDON (Reuters) - British retail sales bounced back this month after a weak March, helped by sales from a later-than-usual Easter, the Confederation of British Industry said on Monday.

The CBI distributive trades survey's retail sales balance jumped to +30 in April from +13 in March, its highest level since February and well above economists' forecasts for a rise to +17.

Sales expectations for May were also very strong, with the index rising to +43, its highest since December 2010.

"It's a welcome rebound from March, largely down to the later timing of Mother's Day and Easter," said Barry Williams, who chairs the CBI survey panel and is a senior executive at Asda, Wal-Mart's (WMT.N) British supermarket chain.

"This latest survey echoes the current drumbeat of positive economic news. The trick now is for this to become a consistent theme, and deliver much needed support to household spending and economic growth in the months ahead," he added.

(Reporting by David Milliken)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.