Keep calm and carry on…shopping
23rd April 2015 By: Ranko Berich
UK Retail Sales – 23/04/15
March’s drop in retail sales looks bad on the surface, but in reality the majority of the fall was due to a 6.2 per cent decrease in petrol station sales. Once fuel is excluded, the March figures actually show another month of healthy retail sales activity, with 0.2 per cent growth.
There’s no cause to believe that the UK consumer is doing anything other than continuing to spend. If anything, the fall in petrol sales is likely to act as a mini tax cut for the consumer, freeing up disposable income to be used elsewhere.