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On Tuesday, the Confederation of British Industry published a survey showing that confidence among British retailers has fallen compared with a year ago, alongside a slowdown in retail sales. The indicator measuring how retail sales have changed over the past year slipped to -32 in November from -27 in October.
On Wednesday, UK headline CPI for October came in at 3.6%, easing slightly from the 3.8% peak saw through July, August, and September. This marks the first deceleration in price growth in five months.
Markets bounced back on Monday, shaking off last week’s tech-driven slump as optimism grew that a U.S. government shutdown may soon be resolved. In the U.S. the S&P 500 gained 1.5% whilst the tech heavy Nasdaq jumped up 2.3%, as investors piled back into tech stocks to take advantage of last week’s pull back.