Biggest drop in petrol purchases in six years hits retail sales in Great Britain
Summary
Retail sales in Great Britain fell by 1.3% in April, the largest drop in a year, mainly because motorists bought much less petrol. Fuel sales dropped over 10%, reversing the sharp increases seen in March when people stocked up due to concerns about fuel prices during the Middle East conflict.Key Facts
- Overall retail sales in Great Britain fell by 1.3% in April compared with March.
- Fuel purchases dropped more than 10% in April, the biggest monthly fall since November 2020.
- In March, fuel sales grew sharply due to people stocking up amid rising fuel prices linked to the Iran conflict.
- Without the fuel sales impact, retail sales still fell by 0.4% in April.
- Beauty products and technology stores saw strong sales in April.
- Clothing store sales fell by 2.4%, the lowest since June last year, affected by weather and worries about rising prices.
- Consumer confidence is down, with April marking the first month retail sales showed effects from the Middle East crisis.
- Retail sales in the first quarter of the year rose 1.1% compared to the previous year.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.