British Consumer Economy Fails to Rebound

The consumer economy of Britain was unable to bounce back in April due to snowy weather that prevented shoppers to go shopping, based on the surveys that contributed to a weak data which lower the chance of the Bank of England to increase rate this week.

According to the latest sign of reduced growth this year, the British Retail Consortium (BRC) stated on Wednesday that the overall retail expenditure decreased to 3.1 percent year over year in April versus 2.3 percent expansion in March. This marked the sharpest decline since 1995 according to BRC records.

The decline mainly affect the timeline for sales-boosting during Easter holiday which began in March this year compared in April 2017, however, BRC advised about the softening of the underlying trend.