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Retail sales under pressure in March

UK retail sales in March grew by 0.4% which was well below the forecast 0.8% many analysts had put forward before the announcement. When you compare this subdued rate of growth to the 2.5% in February there is concern that the UK retail market is suffering. This comes just 24 hours ahead of the announcement of first quarter economic growth in the UK in 2010, something which Gordon Brown will be in possession of before this evenings TV debate.

The economic data from the UK economy is proving more and more difficult to forecast and more and more difficult to believe. We have seen massive fluctuations in retail sales, overall economic performance and the mortgage and property markets seem to have a mind of their own. Against this backdrop it is difficult for investors to look too far ahead to the future, and that is before considering the national debt situation, now above £1 trillion and set to go higher in the short to medium term.

On the surface there would appear to be signs of an economic recovery in the UK but underneath the surface, like a swan, the UK economy, UK consumers and UK businesses are kicking frantically to maintain the current position.

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