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UK retail sales declined by more than expected in March, according to data from the Office for National Statistics on Friday.
Retail sales volume is estimated to have fallen 0.9% in March from the month before, following a 1.1% rise in February. February’s monthly rise was revised down from an increase of 1.2%, the ONS said.
Markets expected retail sales volume to fall 0.5% in March on a monthly basis, according to FXStreet-cited consensus.
Against the same month a year prior, retail sales volume fell 3.1% in March, slowing from a fall of 3.5% in February. The annual print was in-line with market expectations.
Sales remain 0.7% below its pre-Covid February 2020 level.
Excluding fuel, retail sales volume fell 3.2% in March against the previous year and 1.0% against the previous month.
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