United Kingdom: Retail sales growth declines in February
Latest reading: Retail sales rose 1.0% in month-on-month seasonally adjusted terms in February, which was a deterioration from January’s 1.4% increase. The reading beat market expectations of a fall and was largely driven by a strong increase in sales at household good stores.
On an annual basis, retail sales rose at a faster rate of 2.2% in February (January: +0.6% yoy). Meanwhile, annual average retail sales growth rose to 0.7% in February (January: +0.5%). This signals an improving trend in the retail trade sector.