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UK Retail Sales (Mar. 2024)

Although retail sales volumes remaining unchanged in March was worse than expected (consensus forecast +0.3% m/m, CE +0.5 % m/m), sales volumes still rose by 1.9% q/q in Q1 as a whole, bringing the retail recession to an end. And as inflation falls, we still think rising real household incomes will support retail activity throughout 2024.

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