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Retail sales in March beat expectations, with shoppers spending more in preparation of going out again once lockdown restrictions ease, according to new data. The Office for National Statistics (ONS) revealed the amount spent by shoppers increased 7.3% in March and quantity bought rose 7.2% compared with the same month a year earlier – just as the first Covid-19 lockdown started. Sales were also up 5.5% compared with February and saw March mark a return to sales levels beating pre-pandemic figures, unlike January and February – despite non-essential retailers remaining closed. Primark enjoyed strong sales following its reopening in England on April 12 (Jacob King/PA) ....
Retail sales jumped more than expected last month as shoppers splashed on new clothes ahead of the easing of lockdown this month, official figures showed. The amount of goods bought from retailers rose 5.4 per cent between February and March, with sales returning to pre-pandemic levels despite stores remaining closed, the Office for National Statistics said. Retail sales volume were also 7.2 per cent higher than in March 2020, when the country entered its very first lockdown. People queuing outside a Nike store in central London on 12 April, when stores reopened Clothes sales were particularly strong last month, jumping 17.5 per cent despite non-essential retailers only reopening this month on 12 April, according to the figures. ....
April 23, 2021 - Written by John Cameron The Pound Euro (GBP/EUR) exchange rate is mixed this morning despite a range of positive data from the UK as the Euro is bolstered the US Dollar’s weakness. At the time of writing the GBP/EUR pairing are trading at around 1.1503 as the Pound is able to limit its losses with surging flash PMI’s. Pound Sterling (GBP) Mixed Despite Positive Retail Sales The Pound is mixed against the Euro this morning despite better-than-expected retail sales from the UK during March. Retail sales soared 5.4% in March, beating analyst’s forecasts of just a 1.5% increase. Figures from the Office for National Statistics (ONS) also showed that compared with March last year, sales were up 1.6%. ....
SHARE Britain’s borrowing hit £303.1 billion ($420.14bn) in March, after emergency pandemic support measures sent the annual figure to the highest level since the end of the Second World War. The surge in public sector debt over the financial year, which ended last month, was £246bn higher than in the previous 12 months, with borrowing at 14.5 per cent of economic output, the highest ratio since 1946 when the figure was 15.2 per cent, according to the Office for National Statistics. Read More Borrowing in March alone hit £28bn, a record high for that month, with the overall numbers reflecting the sharp rise in public sector spending and tax cuts as UK finance minister Rishi Sunak tried to offset the economic hit from the Covid-19 crisis. ....
UK close to Australian trade deal Louise Moon, Simon Foy Government borrowing hit £303.1bn in year ending March Retail sales jumped 5.4pc compared with February FTSE 100 falls flat, stays shy of 7,000 US market edge higher after a rise in factory activity 05:03 PM Sterling has a strong day Sterling has had a strong day today, rebounding from a sharp fall on Thursday after strong retail sales and PMI figures were a positive sign for Britain s economic recovery. It rose 0.07pc against the US dollar to $1.384, as the weak greenback continued a disappointing week ahead of the Fed s latest rates decision. The pound was down 0.4pc against the euro at €1.147. ....