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UK retail sales rebound

UK retail sales rose strongly between January and February, official figures have shown.

Data from the Office for National Statistics (ONS) showed a 2.1 per cent hike.

In January, volumes fell by three per cent.

Vicky Redwood of Capital Economics said: “February’s official retail sales figures confirm that high street spending bounced back after the snow and VAT rise hit spending at the start of the year.

"That said, the sharp increases are less impressive than they look, given that January's falls were revised far bigger."