UK Government Criticized Over Lengthy Search for New Stats Chief

UK retail sales rose the most in nearly three years, supporting the view that the economy may be turning a corner after last year’s recession. The stronger consumer demand print is incremental positive for growth sentiment but is unlikely to be immediately market-moving absent additional details (e.g., inflation or consumption breadth).

Analysis

UK retail sales rose the most in nearly three years, supporting the view that the economy may be turning a corner after last year’s recession. The stronger consumer demand print is incremental positive for growth sentiment but is unlikely to be immediately market-moving absent additional details (e.g., inflation or consumption breadth).