February's retail sales figures in UK suggested that the recovery in spending has got back on track after a weak start to the year. (Data released on Thursday.)
Volumes rose by 0.7% on the month and annual growth was a very strong 5.7%. Admittedly, sales volumes would have to rise by a monthly 3.5% in March in order for growth to match Q4's 2.3% quarterly increase.
" With real wages now posting sustained rises, the outlook for consumer spending over the rest of this year remains bright." - notes Capital Economics
