Market Comment - UK retail sales get Easter bounce but slowdown still evident

Davy Research
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UK retail sales data for April, published yesterday (May 18th), showed a 2.3% rise on the month – up a healthy 4.0% on the year. However, the timing of Easter has added volatility to the data and sales volumes are up just 0.3% over the past three months. Meanwhile, the Markit Household Finance Index, published this week, showed a sharp deterioration in household finances brought on by rising living costs.