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UK Retail Sales Drops 1.3 Percent Due to Bad Weather

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Retail sales in April were 1.3% lower than in March as bad weather continued to dent spending.

The Office for National Statistics (ONS) also said retail sales volumes last month were 0.5% higher than a year earlier, much less than expected.

The ONS said that sales of garden furniture and barbecue food were especially hard hit last month.

Total food sales plunged 4.1% in April, their largest monthly fall in almost two years.

“Feedback from large food store retailers suggested that the cold weather continued to impact on sales,” said the ONS.

“In particular, the weather hindered sales within their spring and summer ranges.”

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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