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Financial News: UK Retail Sales Remain Flat

UK Retail Sales Remain Flat

03/22/2024 - 03:29:00 (RTTNews)

(RTTNews) - UK retail sales remained unchanged in February, data released by the Office for National Statistics showed on Friday.

Retail sales showed a nil growth on month in February after rebounding by revised 3.6 percent in January. Sales were forecast to fall 0.4 percent.

The ONS said sales volumes in clothing and department stores increased due to new collections but falls in food stores and fuel retailers offset this growth.

Excluding auto fuel, retail sales volume posted a slower monthly growth of 0.2 percent after climbing 3.4 percent in January.

On a yearly basis, overall retail sales fell 0.4 percent, in contrast to the 0.5 percent increase. Sales were forecast to drop 0.7 percent.

Likewise, excluding auto fuel, retail sales slid 0.5 percent, offsetting a 0.5 percent rise a month ago. Economists had expected an annual fall of 0.9 percent.

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