UK Retail Sales Unexpectedly Rise 0.3% in July

UK Retail Sales Unexpectedly Rise 0.3% in July

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Interactive Video

Business

University

Hard

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The transcript discusses the UK retail sales increase, accurately predicted by Dan Hanson of Bloomberg Economics, despite expectations of a drop. Online sales and spending on barbecues and staycations contributed to this rise. However, inflation in the UK has led to low consumer confidence, with the GfK survey reporting a record low. The Bank of England is expected to raise interest rates, with predictions ranging from 50 to 100 basis points, as inflation and recession risks loom.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the expected change in the Bank of England's interest rates according to the text?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the recession risks mentioned in relation to the Bank of England's rate predictions?

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