Retail sales in central London made like-for-like gains in April over figures for the same month last year.
Capital retail sales were 3.0% higher on a like-for-like in April than those recorded in April 2004, contrasting from a slight 0,01% gain in March and a 0.4% fall in February of this year.
The three-month trend rate of growth also rose to a 0.9% increase in April from a 0.1% decline in March for like-for-like sales in central London.
Despite the improvements, however, the average monthly gain registered only 0.7%, compared to a 4.8% gain for the same months in 2004.
“Whilst many retailers in London will breathe a sigh of relief at these figures, the average monthly gain this year is still far below that of 2004,” said Kevin Hawkins, director of the London Retail Consortium (LRC).
“Big-ticket items are still suffering, and the weak dollar continues to deter American tourists. London’s retailers will be nervous about the coming months and feeling under pressure to stay out of negative territory,” he added.
London’s increase in April retail sales is largely attributed to a swell of promotions and drier and sunnier weather than across the rest of the UK, particularly on weekends, which has encouraged more shopping, according to the British Retail Consortium (BRC).
An increase in tourism also boosted consumer spending in the Capital, as overseas visitors from the Middle East and Russia led the way in driving up in-store restaurant and signature sales.
