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    Rebound continues with fourth month of growth

    Retail sales registered their fourth month in a row of growth in August, the Office for National Statistics (ONS) said on Friday. Spending in shops and online rose by 0.8{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} between July and August. Analysts had forecast growth of 0.7{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49}. Compared to a year earlier, retail sales were up 2.8{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} in August. Economists had expected annual growth of 3{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49}. The data showed a continued solid rebound in consumer spending, which began after shops were allowed to reopen in June. Retail sales surged back to pre-pandemic levels in June and sales grew far faster than economists had expected in July. Michael Hewson, chief market analyst at CMC Markets, said the government’s…

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