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Q2 Retail Rise Postive Sign: UBS Research Head

Thursday, 18 Aug 2011 | 4:30 AM ET

"We have had a lot of volatility on the retail sales data because of the Royal Wedding and the number of public holidays. The June data was quite positive, so I think a small increase again in July is an encouraging sign," Stephane Deo, head of european economic research at UBS, told CNBC.