FOREX TradingCharts.com

Financial News: UK Economy Grows Marginally As Estimated; Retail Sales

UK Economy Grows Marginally As Estimated; Retail Sales Rebound Unexpectedly

03/28/2025 - 06:01:00 (RTTNews)

(RTTNews) - The UK economy logged a marginal growth as initially estimated in the fourth quarter as the decline in industrial production was offset by the growth in services and construction sectors, official data showed Friday.

Another data revealed that retail sales expanded unexpectedly in February driven by the rebound in non-food store and auto fuel sales.

Gross domestic product edged up 0.1 percent sequentially in the fourth quarter after remaining flat in the third quarter, the Office for National Statistics said. The ONS confirmed the initial estimate.

On a yearly basis, economic growth was revised up to 1.5 percent from 1.4 percent. On the production-side, the dominant services sector edged up 0.1 percent and construction grew 0.3 percent. Meanwhile, production fell 0.4 percent.

The ONS upwardly revised GDP growth for the whole year of 2024 to 1.1 percent from 0.9 percent. This followed an unrevised increase of 0.4 percent in 2023.

Earlier this week, the Office for Budget Responsibility downgraded its growth projection for 2025 to 1.0 percent from 2 percent.

Overall retail sales logged a 1.0 percent monthly growth after rising 1.4 percent in January, the ONS said in a separate communiqué. Sales were forecast to fall 0.3 percent.

Excluding auto fuel, retail sales were up 1.0 percent, following January's 1.6 percent gain and confounded economists' forecast of 0.5 percent drop.

Non-food store sales, total of the department stores, clothing, household and other non-food stores, increased 3.1 percent, in contrast to the 1.6 percent decrease. This put monthly sales volumes at their highest level since March 2022, the ONS said.

Sales of automotive fuel rose 0.7 percent, offsetting January's 0.7 percent fall. By contrast, food store sales dropped 2.0 percent, reversing a 4.8 percent rise.

Year-on-year, retail sales growth picked up to 2.2 percent from 0.6 percent in January. Economists had forecast a 0.5 percent rise.

Excluding auto fuel, retail sales grew 2.2 percent annually, while economists had forecast annual growth to halve to 0.4 percent from 0.8 percent.

Another data showed that the UK visible trade gap widened to GBP 17.8 billion from GBP 17.4 billion in December. At the same time, the total trade deficit dropped to GBP 2.6 billion from GBP 2.8 billion in the previous month due to an increase in services surplus.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2025 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Japan Retail Sales Climb 3.1% On Year In March (01 hr(s), 52 min(s), 24 sec(s) ago)
(RTTNews) - The value of retail sales in Japan was up 3.1 percent on year in March, the Ministry o ...Full Story»

Japan Industrial Output Sinks 1.1% In March (01 hr(s), 58 min(s), 24 sec(s) ago)
(RTTNews) - Industrial production in Japan was down a seasonally adjusted 1.1 percent on month in ...Full Story»

South Korea Industrial Output Jumps 5.3% On Year In March (02 hr(s), 58 min(s), 24 sec(s) ago)
(RTTNews) - Industrial production in South Korea was up 5.3 percent on year in March, Statistics K ...Full Story»

Japan Data Due On Wednesday (04 hr(s), 03 min(s), 24 sec(s) ago)
(RTTNews) - Japan is scheduled to release a batch of data on Wednesday, highlighting a busy day fo ...Full Story»

Slovenia Retail Sales Fall 2.0% In March (11 hr(s), 36 min(s), 24 sec(s) ago)
(RTTNews) - Retail trade turnover in Slovenia shrunk in March amid weaker demand for foods as well ...Full Story»

U.S. Consumer Confidence Slumps More Than Expected In April (11 hr(s), 43 min(s), 24 sec(s) ago)
(RTTNews) - Largely reflecting a significant deterioration by consumer expectations, the Conferenc ...Full Story»

Euro Area Inflation Expectations Highest Since 2024: ECB Survey (11 hr(s), 50 min(s), 24 sec(s) ago)
(RTTNews) - Eurozone consumers' inflation expectations for one year and three years ahead incr ...Full Story»

U.S. Job Openings Decrease More Than Expected In March (11 hr(s), 55 min(s), 24 sec(s) ago)
(RTTNews) - The Labor Department released a report on Tuesday showing job openings in the U.S. fel ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Japan Retail Sales Climb 3.1% On Year In March

04/29/2025 - 20:16 PM (RTTNews)
(RTTNews) - The value of retail sales in Japan was up 3.1 percent on year in March, the Ministry o ...Full Story>>

Japan Industrial Output Sinks 1.1% In March

04/29/2025 - 20:10 PM (RTTNews)
(RTTNews) - Industrial production in Japan was down a seasonally adjusted 1.1 percent on month in ...Full Story>>

South Korea Industrial Output Jumps 5.3% On Year In March

04/29/2025 - 19:10 PM (RTTNews)
(RTTNews) - Industrial production in South Korea was up 5.3 percent on year in March, Statistics K ...Full Story>>

Japan Data Due On Wednesday

04/29/2025 - 18:05 PM (RTTNews)
(RTTNews) - Japan is scheduled to release a batch of data on Wednesday, highlighting a busy day fo ...Full Story>>

Slovenia Retail Sales Fall 2.0% In March

04/29/2025 - 10:32 AM (RTTNews)
(RTTNews) - Retail trade turnover in Slovenia shrunk in March amid weaker demand for foods as well ...Full Story>>

Do not sell my personal information

Copyright © 2025. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.