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The first quarter of 2013 recorded a GDP growth of 1.6% year-on-year with a marginal contraction in quarter-on-quarter terms. Retail sales grew 2.9% in May 2013 when compared to the same month in the previous year, April recorded a 4.1% y/y increase in sales. The level of unemployment in May was 5.2% as it continues to decline, providing a boost to household disposable income levels. This has led to improved consumer sentiment and a stronger basis for retail markets than many other European countries.
Source : Cushman & Wakefield
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