UK Consumers Keep Calm and Carry On Shopping Before Brexit Deadline

British shoppers ignored worries about an impending Brexit deadline and spent heavily in March, official data showed on Thursday, supporting the country’s sluggish economy while companies were cutting back on investment, Reuters reported. Retail sales volumes surged by the most in nearly two-and-a-half years in annual terms, leaping by 6.7 percent. That was way above all forecasts in a Reuters poll of economists. The increase in part reflected the slowdown in spending a year ago, when Britain was hit by the so-called Beast from the East snowstorms and icy weather, officials at the Office for National Statistics said. Warm weather in March this year helped increase spending on clothes, the ONS said. Sterling rose on the data, reaching a session high against the euro. Read more