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British clothing sales up

British clothing sales have seen a rise in volumes in April by 1.2 per cent from March. Consumers took advantage of falling prices to buy new clothes. It is the biggest monthly increase since November. Annual sales growth picked up pace to 4.7 per cent. The pound jumped to its highest level in two months against the euro and strengthened by one per cent against the dollar.

Robust April reading is a great springboard to a strong second quarter gross domestic product outlook. Quarterly growth in the April to June period could accelerate to one per cent after slowing to 0.3 per cent in the first three months of 2015. Some of the sharp increase in sales was due to a surge in purchases of clothing, textiles and footwear, which jumped by 5.2 per cent in April from March, the biggest monthly rise in four years. The warmer than average weather led consumers to bring forward purchases of summer clothing.

The strong retail sales numbers suggest consumers are finally starting to respond to the boost in spending power brought by last year’s slump in oil prices and a recent tentative pick-up in wages. However, despite the strong headline volume growth figures, there are still tough times ahead on the high street.

 
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