Retail sales beat expectations by holding steady in February

Follows 3.6% rise

UK retail sales beat expectations by remaining flat in February, according to data from the Office of National Statistics published today (22 March).

The volume of goods bought by shoppers last month flatlined at 0%, ahead of market predictions of a 0.4% fall. This unchanged volume follows a 3.6% increase in January. The ONS attributed the flat sales to a rise in clothing sales being offset by drops in food and fuel sales, as well as wet weather. Sales volumes were 1.3% below their pre-pandemic level in February 2020 and the amount spent by consumers fell marginally by 0.1%. UK retail sales jump by highest level since spring 2021 Neil Birrell, CIO at Premier Miton, said UK consumers remain upbeat about personal finances, even wi...