UK Retail Sales Up Despite Brexit Concerns

March sales grew 1.1 percent, up 6.7 percent year-over-year
Posted May 17, 2019

Despite reports that consumer spending in the U.K. would plummet in anticipation of Brexit, the Office for National Statistics (ONS) reported an increase in retail sales of 1.1 percent in March, according to The Guardian. Analysts had predicted a .3 percent drop in sales.

The year-over-year increase in sales of 6.7 percent from March 2018 to March 2019 was the highest since October 2016. All categories of retail sales, minus department stores and household goods, were up in the first three months of 2019, according to ONS.