Yet the good news is that the 5,1% increase is significantly better than the 2,7% rise in March last year. Encouraging, too, is that sales for the bigger ticket items such as household furniture, appliances and equipment rose 11, 8% during March compared with 7,9% in February.

This indicates that consumers are starting to replace furniture and durable goods and retailers are again stocking. Wholesale sales indicate this quite clearly. Results from JD Group and Lewis are surprisingly good. Consumers are also starting to eat out again as shown by the results produced by Taste and Famous Brands. Retailers of food, beverage and tobacco products however are still battling a bit.

Their sales are declined 6, 8% in March, again for the third time in a row. Still bedevilling the industry are factors such as high employment, increasing utility costs, higher assessment rates and fuel costs which still have to work their way into the system. Talks of interest rate hikes should inflation exceeds the 6% limit, and the consequent pressure on particularly bond repayments, are still discouraging consumers from over- committing themselves.