Today: May 20, 2024
Today: May 20, 2024

UK retail sales slide in April, early Easter may be partly to blame: CBI

Share This
LA Post: UK retail sales slide in April, early Easter may be partly to blame: CBI
April 25, 2024
Reuters

LONDON (Reuters) - British retailers suffered their worst April for sales since 2020, when the country was in its first COVID-19 lockdown, although the timing of the Easter holidays could be to blame, a survey showed on Thursday.

The Confederation of British Industry's (CBI) monthly retail sales gauge, which measures volumes versus a year ago, fell to -44 from +2 in March.

Orders placed with suppliers also dried up.

"April’s sharp fall in retail sales was likely related to the earlier timing of Easter this year, so we should take it with a pinch of salt," Alpesh Paleja, CBI lead economist, said.

"That being said, conditions do remain challenging on the ground. April’s fall in sales was faster than expected and retailers aren’t overly hopeful about the month ahead."

(Reporting by Andy Bruce; Editing by William Schomberg)

Popular

Jim Otto, 'Mr. Raider' and Pro Football Hall of Famer, dies at 86

Jim Otto, the Hall of Fame center known as Mr. Raider for his durability through a litany of injuries, has died

Jim Otto, 'Mr. Raider' and Pro Football Hall of Famer, dies at 86

US pediatricians group reverses decades-old ban on breastfeeding for those with HIV

A top U.S. pediatricians’ group is making a sharp policy change about breastfeeding by people with HIV

US pediatricians group reverses decades-old ban on breastfeeding for those with HIV

Bryson DeChambeau puts on a show but somehow comes up short at PGA Championship

Bryson DeChambeau put on the kind of show, and got the sort of breaks, that make players larger than life and sometimes win them major championships

Bryson DeChambeau puts on a show but somehow comes up short at PGA Championship

Scottie Scheffler caps a 'hectic' weekend by rallying to a strong finish at the PGA Championship

Scottie Scheffler finished off what he called a “hectic” week at the PGA Championship by surging to an eighth-place finish

Scottie Scheffler caps a 'hectic' weekend by rallying to a strong finish at the PGA Championship

Related

Surging commodity stocks prop up European shares

Surging commodity stocks prop up European shares

Top Japan companies agree to 5.58% average pay hike, business lobby says

Top Japan companies agree to 5.58% average pay hike, business lobby says

Tesla doing damage-control, discounts for European fleet buyers

Tesla doing damage-control, discounts for European fleet buyers

Venture capital investment in crypto picks up after long decline

Venture capital investment in crypto picks up after long decline
- Advertisement -
Advertisement: Limited Time Offer