Supermarket chain Tesco said this week it failed to meet its UK profit expectations for the past year and expected conditions to remain challenging. On Wednesday, Home Retail, Britain's biggest household goods retailer, said it would face a hard time for at least this year.
There was also good news from public borrowing data released at the same time by the ONS, which covers the whole of the 2010/11 fiscal year.
The government's preferred measure, public sector net borrowing (PSNB) excluding financial sector interventions, came in at �141.1bn, comfortably below the �145.9bn predicted by the Office for Budget Responsibility at last month's annual budget.
On the month, PSNB-ex was �18.6 bn, down from �19.8bn in March 2010, while PSNB including financial sector interventions fell from a year earlier to �16.4bn, below economists' forecasts of �18.6bn.
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