U.K. Retail sales slump to an almost halt in growth
Today the Confederation of British Industry (CBI) published U.K's CBI Retail Sales Volume Balance with supermarkets and department stores reporting a massive slowdown in growth. The index slumped from a previous reading of 39 to 1 in February, missing expectations of a rise to 42. The reading far below estimates and the lowest reading since November 2013 is fuelling concerns over Britain's economy. The index value above zero implies sales growth, below means slowdown.
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- BOJ keeps policy steady, signals chance of easing in October
- UK retail sales fell slightly in August
- Fed lowers interest rates by 25 basis points, as expected
- SNB leaves policy rate unchanged at -0.75%