UK Retail Sales Fall More Than Expected in April

UK retail sales fell 1.3% in April, led by a sharp drop in fuel sales and weak consumer demand. Goldman Sachs subsequently lowered its Q2 UK growth forecast to 0.2%.

Key Takeaways

• 1.Headline UK retail sales fell by 1.3% month-over-month in April, significantly worse than the consensus expectation of -0.6%.
• 2.The decline was primarily driven by a 10.2% drop in auto fuel sales as consumers responded to higher prices, though sales excluding fuel also contracted by 0.4%.
• 3.Goldman Sachs has lowered its Q2 GDP tracking estimate to +0.2% qoq (from +0.3%) due to weakening growth momentum and higher energy costs.

Table of Contents

• KEY NUMBERS
• MAIN POINTS
• Disclosure Appendix
• Global product; distributing entities
• General disclosures

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial