UK: consumers keep outspending peers
- UK retail sales remained elevated in Apr-19 after surging in recent months. Annual growth was several tenths above expectations again. Payback towards the brisk underlying trend is still likely, though, not least because real wages have stalled.- British consumers have matched their bullish expenditures abroad while visitors to the UK have maintained sterling spending levels, despite devaluation. Brexit uncertainty has not stopped UK households from outspending their global peers.
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