Photo: Wikimedia Commons
Well, that should throw you for a loop.Here we’ve been talking about the retail sales spiral in the UK, and how austerity and inflation were conspiring to douse consumer confidence.
And then comes news that March retail sales jumped 0.2% against expectations of a decline of 0.5%, a pretty significant gap.
If this number is real, and the UK consumer shows strength again, the implications for the economy and the country’s ability to withstand austerity is significant.
Meanwhile, the pound is surging, as numbers like these improve the odds that the BoE joins the rate-hike party.