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UK cost of living crisis dents retail sales and service sector

Worried consumers rein in March spending as private sector growth slows

Britain’s economy is showing growing signs of stress from the soaring cost of living amid a sharp fall in retail sales and the biggest loss of momentum for service sector activity since Omicron hit businesses at the end of last year.

Figures showed that a bigger than expected decline in March retail sales was followed by a slowdown across the economy in April, with record inflationary pressures hitting businesses.

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Read the original article at The Guardian

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