UK Retail Booms Despite Political Turmoil
- Retail sales volumes increased by 1.8% in Q1 2019
- Non-store retailing reached a record high of 9.4% growth
- Online clothing sales boosted by warm weather
- Overall retailing online share rose to 18.7%
- Growth across all sectors except household goods
- Department stores continue to see falling sales
Despite the ongoing uncertainty surrounding Brexit, retail sales volumes in the UK have seen a significant increase of 1.8% in Q1 2019 compared to the previous quarter. This growth was driven by non-store retailing, which reached a record high of 9.4%, with online clothing sales particularly benefiting from warmer weather. Year-on-year, total retail sales increased by 5.2%. However, household goods saw a decline of 4.5% during this period. Month-on-month, the figures remained flat at 0.0%. Online retailing accounted for 18.7% of all retail transactions in April 2019, up from 17.7% in the same month last year, representing a growth of 10.1%. Rhian Murphy, head of retail sales at ONS, commented on the strong performance: ‘Retail growth was robust in Q1 2019, with a record quarter for online sector driven by clothing purchases and warmer weather boosting sales, while department stores continue to struggle.’
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about retail sales growth in the UK, including specific numbers and percentages, and quotes an expert source from ONS.
Noise Level: 3
Noise Justification: The article provides relevant and accurate information about retail sales growth in the UK, focusing on specific sectors and time periods. It also includes expert commentary from Rhian Murphy, head of retail sales at the ONS. However, it could benefit from more analysis or context to provide a deeper understanding of the implications of these trends.
Financial Relevance: Yes
Financial Markets Impacted: Retail and online retail companies
Financial Rating Justification: The article discusses the increase in retail sales and the growth of online retailing, which can impact financial markets and companies involved in these sectors.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article
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