U.K. Retail Sales Surge as Consumers Defy Brexit Turmoil
Thursday, 18 April 2019 15:55 WIB | ECONOMY |Retail SalesUK Retail Sales

U.K. retail sales unexpectedly increased for a third consecutive month in March, underlying the resilience of consumers in the face of Brexit uncertainty.

The volume of goods sold in stores and online jumped 1.1 percent from February, the Office for National Statistics said Thursday. Sales excluding auto fuel increased 1.2 percent. Both measures had been expected to show a decline.

It means retailers made a positive contribution to the economy in the first quarter, with sales rising a respectable 1.6 percent from the final three months of 2018. That added 0.09 percentage point to growth, according to the ONS.

Record employment and rising real incomes are helping to underpin consumer spending, the largest part of the economy. In contrast, businesses are cutting spending, fearing an economic slowdown could turn into a slump if the U.K. ends up leaving the European Union without a deal to cushion the blow.

Retail sales excluding fuel last saw a longer run of gains in early 2016. But the annual pace of growth was inflated by poor figures in March 2018, when Britain was hit by snow and freezing temperatures. Overall sales leaped 6.7 percent from a year earlier in March, the fastest pace since October 2016, and were up an annual 5 percent in the first quarter.

Statisticians said warmer weather last month encouraged spending, with food sales also recovering after a weak February. Clothing and household goods posted strong gains, only partly offset by weaker sales at department stores.

Non-store retailing, predominantly online operators, saw sales jump by 4.2 percent on the month and by a massive 23 percent on the year. Food sales rose 1.1 percent from February.

The retail sales survey was carried out between Feb. 24 and March 30.

Source : Bloomberg

RELATED NEWS

Australia 4Q Trimmed Mean CPI Rises 0.4% Q/Q; Est. 0.4% Gain
Wednesday, 29 January 2020 07:47 WIB

Australia, like much of the developed world, has struggled to rekindle inflation as wages stagnate and intensified competition keeps prices in check. The central bank focuses on core inflation, a combination of the trimmed mean and weighted median gauges, that smooths out sharp fluctuations. The st...

US consumer confidence jumps in January to 131.6, vs 128 expected
Tuesday, 28 January 2020 22:13 WIB

Consumer confidence in the U.S. grew more than expected in January as the outlook around the labor market improved, data released Tuesday by The Conference Board showed. The Board™s consumer confidence index rose to 131.6 this month from 126.5 in December. Economists polled by Dow Jones expected ...

German IFO Business Climate Index Disappoints With 95.9 in Jan, EUR/USD Hits Fresh Lows
Monday, 27 January 2020 16:41 WIB

The headline German IFO Business Climate Index came in at 95.9 in January, weaker than last month's 96.3 and missing the consensus estimates pointing to a reading of 97.0. Meanwhile, the Current Economic Assessment arrived at 99.7 points in the reported month as compared to last month's 98.8 and 99...

BOE Rate Cut in Doubt Amid Signs of Post-Election Growth Bounce
Friday, 24 January 2020 16:43 WIB

A closely watched measure of U.K. economic activity surged to the highest since 2018 in January, undercutting the case for a Bank of England interest-rate cut next week. IHS Markit's flash index for output across the whole economy jumped to 52.4 as firms cited reduced political uncertainty in the w...

Germany Starts to Shake Off Slump With Better Start to 2020
Friday, 24 January 2020 15:49 WIB

Germany economy took a big step to putting the horrors of 2019 behind it, opening the new year with a pickup in activity and business confidence. IHS Markit's composite Purchasing Managers' Index rose to a five-month high of 51.1 in January, beating forecasts for a reading of 50.5. While manufactur...

ANOTHER NEWS
Dow Rises For Second Day as Earnings Overshadow Coronavirus Worries
Wednesday, 29 January 2020 23:56 WIB Stocks traded higher Wednesday, as investors waded through a flood of corporate earnings reports, with better-than-expected results from blue-chip names, including Apple, Dow and McDonalds, helping to overshadow some of the concerns related to the...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.