By Ian McConnell

RETAIL sales in Great Britain rebounded unexpectedly in April, official figures revealed yesterday, but they remain weak on a longer-term view and consumer confidence has hit an all-time low amid the cost-of-living crisis.

The Office for National Statistics said yesterday that retail sales volumes had risen 1.4 per cent month-on-month in April. A poll of economists by Reuters had indicated an expectation that sales volumes would have fallen by 0.2%. Retail sales volumes declined by 1.2% in March, with the previous estimate of a 1.4% decline having been revised in the latest figures.

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However, comparing the February to April period with the preceding three months, retail sales volumes were down 0.3%, and the ONS noted: “This continues the downward trend since summer 2021.”

Food store sales volumes rose 2.8% month-on-month in April. Non-food store sales volumes declined by 0.6%.

Non-store retailing sales volumes rose by 3.7% in April, boosted by demand for clothing. This category is predominantly sales by online retailers.

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GfK’s closely watched UK consumer confidence index, the latest reading for which was published yesterday, dropped by two points to -40 in May, its lowest since records began in 1974.

Joe Staton, client strategy director at GfK said: “The GfK consumer confidence barometer recorded a headline score of -40 in May, the worst since our records began in 1974. This comes as UK unemployment hits a 50-year low with vacancies outnumbering job-seekers for the first time, and [with] inflation peaking at a 40-year high driven by soaring food and fuel bills. May’s result is one point lower than the previous record [low] set in July 2008 when the headline score plunged to -39. This means consumer confidence is now weaker than in the darkest days of the global banking crisis.”

He added: “Even the Bank of England is pessimistic, with Governor Andrew Bailey this week offering no hope of tackling inflation.”