British retail sales rose at the fastest pace in three months in February, beating expectations and suggesting Britain's consumer-led economic recovery remains strong ahead of national elections in May. Retail sales rose 0.7 percent last month, their best growth since November and up from 0.1 percent in January, the Office for National Statistics said on Thursday.
Falling shop prices declined at the fastest rate since at least 1997 encouraged Britons to hit the shops in February, with furniture selling particularly well. A separate Confederation of British Industry survey showed retail sales grew at a solid pace this month as well, which will cheer Prime Minister David Cameron's Conservative Party ahead of a closely-fought election on May 7.
The us economy was boosted by another impressive jobs figure after fewer Americans than forecast filed applications for unemployment benefits last week as improved weather conditions ushered in labour market stabilisation.Jobless claims fell by 9,000 to 282,000 in the seven days ended March 21, the lowest level since mid-February.
A sustained low level of applications, which shows that employers are holding on to workers, typically coincides with more hiring. Continued gains in employment was one of the two signals, along with a pick up in inflation, that Federal Reserve officials last week said were necessary before raising rates.
USD :12:30 -US Annualised Gross Domestic Product (Q4) expected to fall to 2.4% from 5.0%
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