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Retail sales rise on the month, but crash 4.9% year-on-year
As a pleasant surprise, UK retail sales for April came in better than forecast. Economists had expected both numbers to be considerably worse than they were.
In the event, that drop of 4.9% year-over-year was not as bad as the 7.2% slump expected and against March the sales rose 1.4% where a 0.2% drop had been pencilled in.
However, as Jeremy Naylor explains the worst is still expected to come.
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