Retail sales in the United Kingdom got back to surge in April, reviving from unusually bad weather in March. Undoubtedly, that’s a positive signal for the UK economy after a series of poor data for the last months.
Retail sales gained up to 1.6% in April compared with March, as the National Statistics Office informed on Thursday, with surge in all sectors, except department stores. Moreover, sales of gasoline also rallied after the cold March weather affected the trips.
These figures managed to surpass the expectations of market experts, who forecast a jump of 0.7% per month.
Reading in April actually indicates a recovery in the retail sector after sales in the first quarter of 2018 dipped by about 0.5% compared to the last three months of the previous year.
However, over a longer period, the growth in retail sales has speeded down considerably and the surge in sales of food, household goods as well as online stores is largely compensated by a dive in all other types of retail trade, as some financial analysts pointed out.
Thursday's figures turned to be a bright spot among the data of the second quarter, which until now were quite mixed. Additionally, data on consumer price inflation for April, released on Wednesday, demonstrated the slowest growth in more than a year.
It’s highly anticipated that the economy of the United Kingdom is going to lag behind its counterparts this year because uncertainty about the conditions of its future relations with the European Union affects the activity and investment.
Bank of England Governor Mark Carney as well as several other officials on Tuesday told lawmakers that Britain’s key financial institution could have rates lifted a few months, after the stakes were the same at their previous gathering.
ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.
The Fed is going to take a decision about the interest rate. This is the crucial news for the following week. What's going on in the markets and what to expect?
The market is pricing that the Fed will leave the rate at the same level. Meanwhile the major players think that the Fed will start with the monetary easing in the second quarter 2024.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
