The UK economy is on a roll. The latest government numbers put April monthly growth at 2.3%. This is the fastest increase seen since July last year, when it grew by a huge 7.3%.
Retailers drive growth
The latest increase is explained by the reopening of non-essential retailers during the month. It follows that the segment’s growth far outstrips that of other sectors. Retail volumes increased by 9.2%. Among retailers, clothing retailers saw an over 25% increase. This is evident in the rising share prices of FTSE 100 clothing retailers as well.
2 FTSE 100 retailers to buy
Consider the luxury brand and retailer, Burberry‘s, that I both like and own. It has recovered quite a bit, although not back to pre-pandemic levels, but now I reckon it is only a matter of time before it does.
The iconic British brand had started recovering early last year, possibly because of its popularity in China. While China was the first economy to slump because of coronavirus, it was back up fast as well. Since last year, the stock is up over 40%. It has gained 7% since the reopening in the UK in April….