Retail Figures Slowdown

A slowdown in consumer spending is underway and UK retail sales rose only slightly less than expected in April, official figures showed on Thursday.

The Office for National Statistics said retail sales volume was 0.3 per cent higher than in March, making the annual rate of 2.7 per cent the lowest since 1999.

Unofficial survey data on retail sales in April were positive, suggesting consumer confidence had grown post-war Iraq and the affect of a short bout of warm weather earlier that month.

Recent survey data, however, has been affected the fact that Easter, a key shopping period, fell later this year in April rather than in March, and distorted a like-for-like comparison.

The strongest areas in April were household goods and food, up an annual 7.7 per cent and 5.8 per cent respectively.