British retail spending took a massive hit last month, experiencing its biggest annual fall in four years as a result of the Easter holidays falling early.
Leading trade association, the British Retail Consortium, said today that total retail sales in the UK dropped by 1.3 per cent in value terms in April, following a significant 4.7 per cent rise in March, when Easter shopping lifted the BRC's figures.
However, Reuters has reported that other surveys have pointed to strong consumer morale and wage growth, showing signs of gradual improvement after years of effective stagnation.
Barclaycard released a separate survey which pointed to confidence among British shoppers, as its measure of consumer spending rose 4.5 per cent compared to the previous year.
The Confederation of British Industry also carried out a survey last mon, th which showed a lull in sales growth in April, however it also found optimism among retailers that May would be a stronger month.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Ciara Mooney.
