Retail Sales Improved Showing Signs of a Tentative Economic Recovery
There is good news in context of UK economy that an improvement is noticed in retail sales in the month of February much more than expectation. There is also consumers' pessimism eased again which is indicating a sign of a tentative recovery in the economy, though the news was very mixed from different sector to sector. On Tuesday, the Confederation of British Industry said that its monthly survey's reported sales balance in January rose to -2 from -22, beating by a wide margin of economists' forecasts for -19. The expected sales balance for March from -10 for February also climbed to +2. The European Commission also showed a separate survey that British consumer morale in February rose to a six-month high. The survey follows fourth-quarter GDP data which showed the first quarterly rise in consumer spending which accounts for over 60 percent of all expenditure in Britain in 1-1/2 years and offering the Britain's economy a base to bounce back from a dip in the last t...
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