Chartered Accountants Lambert Chapman - Braintree, Chelmsford, Maldon, Essex, London: logo6

Retailers enjoy unexpected increase in sales

There was a surprise hike in retail sales during February, new figures have revealed.

The Office for National Statistics has reported that high street sales climbed by 1 per cent last month.

Compared to a year ago, sales were up by 5.5 per cent.

The rise defeated predictions that consumer activity, knocked back by uncertainty over the economy, would fall in February by 0.2 per cent.

The unexpected surge in retail sales may encourage the Bank of England, with one eye on inflationary pressures in the economy, to postpone the next cut in interest rates.

Date:25 March 2008

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Lambert Chapman LLP is a limited liability partnership registered in England and Wales under registered number OC328593. The Registered Office is 3 Warners Mill, Silks Way Braintree, Essex CM7 3GB. Partner denotes member of the LLP.

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