Retail Sales Boom ... makes nonsense of forecast gloom ...
Retail sales volumes jumped by 6.7% in March, increasing by over 7% in value compared to prior year. Shoppers were shrugging off Brexit fears, splashing the cash and flashing the cards in defiance of forecast gloom. Online sales were up by 12% accounting for almost 20% of all transactions. Clothing and footwear sales were up by over 7%.
Comparisons with prior year were distorted by the dismal performance last year. The "Beast From The East" roamed the streets in 2018. Milder weather this year and stock piling of toilet rolls apparently, may have boosted sales.
Adjusting for the low figures last year, retail sales in volume and value were up by 5% in the month and over 4% in the quarter.
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