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Weak retail sales print; but unlikely to have any policy implication

  • That is a very weak retail sales print - in volume terms that is the weakest since February 2021 and around 4% lower than pre-Covid levels.
  • There were falls in food store sales, non-food store sales but a rise in non-store retailing - that is generally attributed to online retailers).
  • This is unlkely to to have implication for the MPC decision in December.

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