UK retail sales had a slow month in April, only rising by a smaller than expected 0.3% from March to give the slowest annual rate in almost four years.
The figures released by the Office for National Statistics today confirm forecasts of a consumer slowdown.
The figures show year on year sales were up 2.7% month, the slowest rate since May 1999. It was also slower than the 2.9% growth rate economists had expected.
The data follow comments from Bank of England Governor Sir Edward George yesterday, who predicted that a slowdown in consumer spending from the torrid pace seen last year 'now appears to be underway'.
The Office of National Statistics also released a report showing that business spending picked up by 0.8% in the first quarter of the year compared with the fourth quarter of 2002, and was up 1% year-on-year.
