Not much more to say than what’s right here. Dismal.
#UK April retail sales inc. fuel -1.3% M/M, biggest drop since April 2012; +0.5% Y/Y. Retail sales ex fuel -1.4% M/M, +0.2% Y/Y.
— Markit Economics (@MarkitEconomics) May 22, 2013
The UK’s economic problems are well known, though lately there has been some talk about the economy troughing and improving. Outgoing Bank of England chief Mervyn King has expressed home of a brightening outlook.
This does not support that view.
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