UK Retail Sales Up Again

24 May 2004

UK retail sales volumes climbed 0.3% last month, according to the Office for National Statistics.

The rise translates into an annualised pace of 6.1%, increasing the chances of further interest rate hikes. Sales between February and April were up 1.6% compared with the previous three months.

"The figures confirm the already widespread views that interest rate increases have so far had minimal impact on consumer activity," commented Philip Shaw of Investec.

Data sourced from: BBC Online; additional content by WARC staff