2023-05-26 02:10:51 ET
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Retail sales volumes in the United Kingdom rose by 0.5 percent from a month earlier in April 2023, partially recovering from a 1.2 percent decline in March and slightly beating market expectations of a 0.3 percent growth.
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Non-food stores sales were up by 1.0 percent, following a fall of 1.8 percent in March when poor weather conditions throughout most of March affected sales, while food stores trade advanced by 0.7 percent, rebounding from a 0.8 percent drop the month before.
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In addition, on-line trade was up by 0.2 percent, while fuel sales slumped 2.2 percent, despite falling fuel prices.
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Yesterday, Germany slipping into recession , and core inflation showing few signs of slowing down there is increasing concern that central banks will need to continue hiking, thus slowing demand even further in the coming months.
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ETFs: ( FXB ), ( EWU ), ( FKU ), ( EWUS ), ( HEWU ), ( FLGB ).
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UK Retail sales rebound in April, beats forecasts