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Uploaded on Apr 26, 2011
Rumours of the demise of the retail sector have been greatly exaggerated according to today's figures. The markets were prepped for a terrible figure following the BRC's recent release and the belief that the UK consumer was refusing to put its hand in its pocket however the pound is starting to reverse recent losses against the euro and the US dollar. This retail figure comes after a weak inflation figure and before next week's crucial Q1 GDP announcement and I believe the UK is set up for a summer of good economic data that shows the recovery is back on track. This also fits nicely in with our long-held belief of a BOE rate rise in August.