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UK retailers reported a boost in spending

UK retailers reported a boost in spending | 11 April 2023

11 April 2023, GBP/USD

UK retailers reported a boost in spending

GBPUSD trading plan:

The British Retail Consortiumin a report said that its members - mostly large chain stores and supermarkets - reported a 5.1% year-on-year increase in retail spending in March, down a shade from annual growth of 5.2% in February. In real terms, this represents a sharp fall in the volume of goods purchased, as consumer price inflation ran at 10.4% in February, the most recent official data shows. Like-for-like sales, which strip out changes in retail space, rose by 4.9%, the same as in February. Mother's Day was marked in Britain on March 19 this year, and saw last-minute purchases of jewellery, perfume and flowers, the BRC said.

Investment idea: buy 1.2390 and take profit 1.2466.

David Johnson
Analyst of «FreshForex» company
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