James Smith, developed markets economist at ING, points out that at 6.2% year on year, UK’s retail sales excluding fuel are now growing at the fastest annual pace, since the end of 2016. Key Quotes “Despite all the Brexit noise, the latest surge in UK retail sales indicates consumer spending performed a little bit better during the first quarter – at least at face value.” “We think it’s worth treating these latest figures with a touch of caution. Easter falls later this year, which might typically be associated with lower sales during March relative to other years. Similar data from the British Retail Consortium also suggested that spending was more muted during March, aside from some increased purchases related to Mother’s Day. The latest surge in retail spending also comes at a time where consumer confidence is around the lowest it has been since 2013.” “That said, we think consumer spending could continue to perform well in the near-term. The latest Brexit extension to the end of October could see consumer confidence rise a little over the next couple of months as some of the ‘no deal’ concerns temporarily dissipate. That, combined with prospects of a sunny Easter trading period, makes for a better backdrop for retailers as we head towards the summer.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price prediction: no escape from the range – Confluence Detector FX Street 4 years James Smith, developed markets economist at ING, points out that at 6.2% year on year, UK's retail sales excluding fuel are now growing at the fastest annual pace, since the end of 2016. Key Quotes "Despite all the Brexit noise, the latest surge in UK retail sales indicates consumer spending performed a little bit better during the first quarter - at least at face value." "We think it's worth treating these latest figures with a touch of caution. Easter falls later this year, which might typically be associated with lower sales during March relative to other years. Similar data from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.