UK retail sales were flat on-month in February, after a lofty boost in January, new data on Friday showed.
According to the Office for National Statistics, UK retail sales were flat on-month in February, following a 3.6% boost in January. January’s figure was upwardly revised from 3.4%.
February’s retail sales figure was predicted to show a fall of 0.3%, according to FXStreet, so the actual figure beat market consensus.
‘Sales volumes in clothing and department stores grew because of new collections but falls in food stores and fuel retailers offset this growth. Meanwhile online sales increased, particularly for clothing retailers, as wet weather affected footfall,’ the ONS said.
Year-on-year, UK retail sales fell by 0.4% in February, following a 0.5% increase in January. FXStreet were expecting retail sales to fall by 0.7% annually.
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