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With Britain now in a technical recession, economic data will be closely scrutinised for signs that the downturn could be ending.
And the latest retail sales figures, just released, show that retail sales across Great Britain grew at the fastest rate since April 2021 last month, as consumers returned to the shops after a pre-Christmas slump.
Retail sales volume rebounded by 3.4% in January, the Office for National Statistics reports. That follows a record 3.3% tumble in retail spending in December, which flashed warning signs over the economy a month ago.
It could be a sign that the UK economy is picking up as Bank of England governor Andre…
Read the full article at: https://www.theguardian.com/business/live/2024/feb/16/uk-retail-sales-rebound-christmas-slump-recession-economy-natwest-profits-jump-new-ceo-business-live