You are here: Home - Uncategorized -

Retail sales slow in April as Bank Rate outlook ‘darkens’

Written by:

Retail sales growth in the UK slowed in April to a rate of just 2.4%, according to the British Retail Consortium (BRC).

This compared with a 6.8% increase in the same period a year earlier and analysts have warned that the figures could herald a longer-term retail slowdown in the coming months.

“With an interest rate rise forecast tomorrow, and more in the offing, the outlook could darken for retailers this year,” said retail analyst Debbie Harrison.

“It’s uncertain how people will react to further rate rises, especially as the level of indebtedness in the country  is so high, especially with so many people heavily mortgaged. Retail spending would be one of the first things out of the window.”

But the BRC was more upbeat about the figures. “This is a good result, helped by the exceptionally warm and dry weather which prevailed through most of the month,” said Kevin Hawkins, director general of the BRC.

“Predictably, some categories did better than others, although there was a general falling-off in sales growth towards the end of the month.

“Now that the Easter distortions are out of the way, we should get a clearer reading of the real level of sales growth as May progresses,” he added.


Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Insurance fraud costs the country £1.6bn each year

Fraudulent insurance claims cost the UK around £1.6bn a year, according to a survey of almost 7,000 people by the Association of...