March UK retail sales growth likely to have been modest

The official retail sales report for March (Thurs) may attract the most interest. Measuring retail spending at this time of year is always particularly difficult due to the variable timing of Easter. Surveys have been sending mixed messages about the strength of sales. 

"We forecast modest monthly growth of 0.3%, which would leave 2015 Q1 sales growth meaningfully below that in Q4 of last year." - Lloyds Bank

Meanwhile, the minutes of the April MPC meeting (Wed) seem unlikely to deliver any major surprises. Of key interest could be the MPC's take on the labour market data through to January, where earnings growth underwhelmed market expectations. 

"We consider a formal change of stance unlikely, and expect a 9-0 consensus for unchanged policy." - Lloyds Bank

Finally, public finance data (Thu) for the final month of 2014/15 will provide the starting point for the fiscal plans of any incoming government, with no Election set-piece events over the coming week.