views

WHAT IS THE OUTLOOK FOR BOTH UK RETAIL SALES AND CONSUMER SPENDING?

PHILIP SHAW | INVESTEC
"Our suspicion is that pre-election jitters could have had a negative impact on shoppers, as it appears to have had in the Nationwide measure of consumer confidence. We are pencilling in decline of 0.5 per cent on the month but would warn that the monthly series is unpredictable."

PETER DIXON | COMMERZBANK
"We look for only modest retail sales growth in April, based on survey data from the BRC and CBI. Seasonal factors are likely to have played a role in depressing sales, and the outlook does not appear especially bright given the likely impact of tighter fiscal policy is likely."

HOWARD ARCHER | IHS GLOBAL INSIGHT
"Retail sales volumes are forecast to have risen by a relatively modest 0.4 per cent month-on-month in April, matching March’s growth rate. The upside for consumer spending – and hence overall economic growth – will be limited for some time to come as households still face very challenging conditions."