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High Street Sales Up Slightly But Still Dismal

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Thursday March 16, 11:59 AM

UK high street sales pick up after poor start

Sales on the high street last month were slightly stronger than expected but the better news was offset by a downward revision to already poor numbers for January.
The Office for National Statistics said the volume of retail sales rose by 0.5 per cent between January and February, against consensus forecasts of a 0.4 per cent gain.
Sterling initially gained as the headline figure damped talk of an imminent cut in the cost of borrowing.
However, it quickly reversed direction after traders noted the original 1.3 per cent fall in sales registered in January - then the fastest pace of decline in more than a year - was revised to record a contraction of 1.6 per cent.


"The rebound so far this year is unconvincing and that has to
place a question mark against the Bank of England's optimism for a recovery
in consumption this year," Investec (LSE: INVP.L - news) 's Philip Shaw said.
The CBI and the British Retail Consortium have already fuelled concerns about the state of the high street by releasing poor monthly sales figures.

Perhaps the sheeple are beginning to feel the pinch? Recession anyone?

Edited by Realistbear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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