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Domestic Spending, Cheap Oil to Boost UK Economy in Q4
The latest data on the volumes of retail sales suggest low inflation and falling petrol prices helped increase spending during the first two months of the final quarter. After slowing significantly from a 1.9% rise in the second quarter to just 0.5% in the third quarter, retail sales bounced back again in the fourth quarter. Even though the December sales data may come in weaker when compared with 'Black Friday' bolstered November, the total fourth-quarter sales should come in stronger. UK shoppers have been enjoying massive discounts ahead of the festive season, while cheaper petrol has given the buyers' appetite a ... (full story)