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In September, UK shoppers stepped up their spending at the fastest pace this year, excluding an Easter-related soar in April. However, much of the ascend actually reflects higher prices for clothing and food after the Brexit vote, as a poll disclosed.
Retail sales inched up by 1.9% on alike-for-like basis stripping out changes in store size, as the British Retail Consortium informed, up from 1.6% in August.
The leap follows other signs, which UK consumers are adapting to the soar in inflation caused in large part by the decline in the value of the UK currency after the Brexet vote to take the UK out of the European Union in June last year.
The Bank of England that has already hinted it’s already approaching its first rate lift in a decade, is actually expecting a jump in spending.
As the BRC told, in August, growth in total sales the previous month slowed modestly to about 2.3% from 2.4% percent, although was still stronger than in most months so far in 2017.
French quarterly surge is expected to strengthen in the first half of 2019 because consumer spending derives benefits from improving household incomes as well as reviving business confidence after protests at the end of 2018…
In January, new orders for American goods shot up less than anticipated, tamed by dives in orders for computers as well as electronic products, which is another sign of decelerating manufacturing activity…
The Federal open market committee (FOMC) will make its monetary policy statement and announce the interest rate on March 20, 20:00 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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