UK retail sales volumes climbed year-on-year in March, but were flat on the month before, numbers on Friday showed.
According to the Office for National Statistics, retail sales rose 0.8% in March from a year prior, though were still 1.2% below the pre-pandemic level in February 2020.
Sales had declined 0.3% on-year in February.
Sales were flat in March from February, following a 0.1% rise in February from January. February’s reading was upwardly revised. Retail sales volumes for that month were initially reported to have been flat from January.
The outcome for March fell short of FXStreet-cited market consensus. Growth of 0.3% had been expected.
‘Within retail, sales were mixed, with automotive fuel and non-food stores sales volumes rising by 3.2% and 0.5%, respectively. This was offset by falls in food stores and non-store retailers of 0.7% and 1.5%,’ the ONS said.
‘Looking at the quarter, sales volumes increased by 1.9% in the three months to March 2024 when compared with the previous three months. This was following low sales volumes over the Christmas period for retailers.’
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