UK April consumer spending shows its biggest increase since June 2023

UK consumers delivered a strong rebound in spending last month, with April retail sales jumping sharply thanks to Easter timing and unusually sunny weather.

• The British Retail Consortium reported a 7.0% year-on-year rise in total retail sales, up from 1.1% in March — the strongest annual gain for any month since the pandemic.

• Like-for-like sales rose 6.8%, compared to just 0.9% in March.

• Clothing sales were a standout, driven by the sunniest April on record since 1910

• Averaging March and April to smooth Easter-related distortions, sales were up 4.3% year-on-year.

Separately, Barclaycard data showed consumer card spending rose 4.5% year-on-year, the largest increase since June 2023 and the first time in over two years that spending growth outpaced inflation.

• household confidence remained steady, with 70% of consumers feeling stable about their finances.

This article was written by Eamonn Sheridan at www.forexlive.com.