13 April 2010

Retail Sales Surge in March

Post Easter break, and the sales figures for the UK retail sector look good for March. The latest flurry of surveys, out at the beginning of each new month to show the last month's performance for the economy show that shoppers were out in full force in preparation for Easter.

Falling at the beginning of April, consumers hit the shops in March and made the most of aggressive price cuts offered at most supermarkets. Retail sales were up by their fastest rate in nearly four years.

Meanwhile the euro started this week on a surge of strength thanks to a reported €30 billion bailout package for Greece, which was agreed upon by EU leaders and the IMF. The package - which is essentially a massive loan with a relatively low interest rate (around 5%) - may not be called upon, say Greece. They hope that their austerity measures will be sufficient to cut the deficit there.

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