RETAILERS got a sunshine sales boost last month — but experts warn it will not last as consumer confidence has been dented by rising bills and trade tariffs.
Official figures show sales volumes rose by 0.4 per cent in March, despite a predicted a 0.4 per cent fall.
It marks the third month in a row for retail sales growth, but a slowdown on the 1.4 per cent rise in January and 0.7 in February.
Across January to March, the sales volume rose by 1.6 per cent compared to the previous quarter.
This was the biggest increase since spring 2021, the Office for National Statistics said.
Hannah Finselbach, ONS senior statistician, said: “The good weather helped to boost sales.
“Garden centres reported robust trading and the sunny weather also helped brighten sales of DIY goods and clothing.”
But Nicholas Found, of consultancy Retail Economics, warned while March offered “glimmers of hope”, spending is under “significant strain” as consumers brace for household bills rising further and firms contend with trade tensions and Budget costs.
Consumer confidence has dipped to the lowest level in two years, amid fears US President Donald Trump’s trade war will mean even higher prices and instability.
The closely-watched GfK consumer confidence index fell by four points to -23 in April.
1
INDIAN APPLES
APPLE is planning to shift production of its US-bound iPhones to India and away from China in response to Donald Trump’s tariffs.
Boss Tim Cook has been trying to diversify Apple’s supply chain.
According to the Financial Times, he hopes to use India to produce the 60 million iPhones sold annually in the US by the end of 2026.
IN DEEP WATER
IT would take 700 years to replace Britain’s entire water network despite an urgent need to fix overflows, burst pipes and shortages, according to the National Audit Office
The spending watchdog has criticised the water regulator Ofwat and the Environment Agency and said water firms’ performance has not improved for a decade.
GOOD WEEK: NIK Storonsky, boss of fintech firm REVOLUT, which toasted profits of £1bn ahead of launching as a UK bank later this year.
BAD WEEK: ELON Musk, who saw profits at his electric car firm TESLA plunge by 71 per cent amid a consumer boycott.