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UK Retail Sales Fall Hurt by Earlier Easter

British retail sales plunged unexpectedly last month, hurt by an earlier Easter this year, although the underlying trend appears to be improving, the British Retail Consortium said on Wednesday.

Sales values fell 2.2 percent from a year earlier on a like-for-like measure, which strips out changes in stores’ floor space and is favored by company analysts. That was the steepest drop in a year and confounded analysts’ forecasts for a 1.8 percent rise.

The total value of sales dipped 0.6 percent in April, breaking an almost year-long run of growth.

Easter fell in April last year but in March this year, making for an unfavorable annual comparison in sales.

via CNBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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