Retailers witnessed a strong growth in sales this month, helped out by a later-than-usual Easter, the Confederation of British Industry has revealed.
The Distributive Trades Survey of 131 firms showed that sales growth in April improved from March, with sales now having increased year-on-year for the fifth consecutive month.
In the survey, 42% of respondents reported that sales volumes were up on a year ago, while 12% said they were down, giving a balance of +30%, up from +13% in March.
Retailers predict sales volumes to grow by 43% next month, the highest expected growth since December 2010.
“The high street has a spring in its step – retailers performed well in April and enjoyed a strong rise in sales compared with this time last year. It’s a welcome rebound from March, largely down to the later timing of Mother’s Day and Easter,” said Barry Williams, Asda chief merchandising officer for food, and chair of the CBI Distributive Trades Survey Panel.
“This latest survey echoes the current drumbeat of positive economic news. The trick now is for this to become a consistent theme, and deliver much needed support to household spending and economic growth in the months ahead,” Williams added.