FLASH: retail rebounds rapidly in Apr-18
- Retail sales exceeded expectations in April by rapidly rebounding 1.6% m-o-m, which was enough to regain its former trend. Other retail surveys have also been improving with the weather, aided by the return of real income growth.- Concerns about the health of the consumer appeared to weigh on the MPC’s May decision. Mounting evidence of an improvement should help alleviate the risk of deleveraging, thereby supporting a Bank rate increase in August 2018.
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