News in Review Wednesday 27th April 2022
As expected, the latest data set from the Office for National Statistics (ONS) highlighted that consumer spending, impacted by rising costs, led to a reduction in UK retail sales throughout March. As people tightened up on nonessential spending, retail sales volumes fell by 1.4% in the month following a decline of 0.5% in February. This fall significantly lags the 0.3% decline expected by economists.
