By Marcus Leach
Figures released by the Office for National Statistics (ONS) show that retail sales in the UK rose 1.1% on those from March in April.
Boosted by the warm weather and extra bank holiday for the Royal Wedding sales were higher than experts expected.
It was the biggest rise in retail sales for April since 2002, although it is not expected to last as consumer confidence remains low.
“Finally a much need boost for the economy, as UK retail figures see a significant rise during April," said Jeremy Cook, chief economist at World First foreign exchange.
“It seems that the Royal Wedding gave the UK economy the boost it needed in April, but they key will be whether this strength can last or if we need Harry to get on with proposing to his intended, whoever that may be, sooner rather than later!
“This improvement is likely to be seen as a bit of an outlier figure as the mood on the High Street is still rather bleak, as typified by the announcement of the closure of 110 Mothercare stores which came out yesterday.
“So much like the saccharine hit the wedding gave TV viewers on the day itself, unfortunately the cheer is unlikely to last.
“We expect to see market participants use this spike as an opportunity to further bet against the UK recovery via bets against the pound and gilts.”
