Retail Sales Rebound in April; Tops.........>

UK DATA: Retail Sales Rebound in April; Tops Analyts' Expectations 

-UK Apr Total Retail Sales +1.6% m/m; +1.4% y/y; +0.1% 3m/3m

-UK Apr Retail Sales Ex-Fuel +1.3% m/m; +1.5% y/y; +0.2% 3m/3m

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Sales volumes growth posted an immediate bounce back in April, with 

all of the factors that dragged on growth in a weather-hit March posting 

reversals. Total sales growth was up 1.6% m/m in April, significantly 

above market expectations (0.8% m/m), with non-food stores (+0.6pp) and 

food and fuel (+0.5pp) the biggest contributors. Increases were seen 

across all sectors in April, except department stores which posted 

strong gains in March when the snow induced more online sales. Better 

weather on the month helped boost household good stores, particluarly 

hardware, paint and glass, anecdotal evidence showed. Q1 retail sales 

growth was revised up by 0.1pp to -0.4% but this will not have a 

positive impact on Q1 GDP, according to an ONS official.