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28 April | Other

UK consumer sentiment remains gloomy despite slowing sales decline in April

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UK consumer sentiment remains gloomy despite slowing sales decline in April

The Confederation of British Industry (CBI) reported that its monthly retail sales index remained negative in April at -8, though it hit the highest level since October 2024. By comparison, the index was at -41 in March, the lowest since last July.

Despite the slower decline, market sentiment remains pessimistic, according to Reuters. The latest survey data suggest a potential contraction in UK sales to -33 in May. The news agency's experts believe that last autumn's budget measures, subdued consumer confidence, and global trade uncertainty are the reasons for further deterioration of the index.

UK businesses are urging government intervention to restore buyer confidence, as rising household bills and Donald Trump’s trade tariffs continue to have a negative impact on consumer activity, Reuters notes.

Elena Berseneva MarketCheese

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