Retail trade increased by 0.1% in March, below forecasts of a 0.4% rise. The modest rise follows numerous months ofhigh outcomes. And, despite the low increase in sales over March, retail trade is still around 5.7% higher over the year.We still see retail trade rising noticeably over 2014, particularly when the unemployment rate peaks. A pick up in consumerspending is an important component of the “growth transition” policy makers are trying to engineer.
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