jeudi 26 mars 2015
UK retail sales stronger than expected in February
Posted on 02:51 by nice news
British retail sales rose more strongly than expected in February, helped by last year's recovery in the housing market which boosted furniture purchases and by growth in sales in all other sectors too.
Compared with February last year, sales volumes rose 5.7 percent, the Office for National Statistics said in a set of figures which add to signs that Britain's economy is continuing to grow strongly ahead of national elections on May 7.
Retail sales rose 0.7 percent from January, the ONS said.
A 0.9 percent monthly increase in sales in non-specialized stores reflected higher furniture purchases which often lag a recovery in home sales, the ONS said.
Economists had expected a rise of 0.4 percent on the month and an increase of 4.7 percent on the year, adding to strong growth in sales at the end of last year.
In the three months to February, a smoother reading than the often volatile monthly changes, sales rose 2.0 percent, slowing from the previous month which reflected a slowdown in sales in January.
Britain's economic recovery since mid-2013 has relied heavily on consumer spending.
Wages are recovering after falling in real terms for most of the period since the financial crisis, and inflation in February fell to zero, helped by lower fuel costs which have put more money in the pockets of households.
Compared with February last year, sales volumes rose 5.7 percent, the Office for National Statistics said in a set of figures which add to signs that Britain's economy is continuing to grow strongly ahead of national elections on May 7.
Retail sales rose 0.7 percent from January, the ONS said.
A 0.9 percent monthly increase in sales in non-specialized stores reflected higher furniture purchases which often lag a recovery in home sales, the ONS said.
Economists had expected a rise of 0.4 percent on the month and an increase of 4.7 percent on the year, adding to strong growth in sales at the end of last year.
In the three months to February, a smoother reading than the often volatile monthly changes, sales rose 2.0 percent, slowing from the previous month which reflected a slowdown in sales in January.
Britain's economic recovery since mid-2013 has relied heavily on consumer spending.
Wages are recovering after falling in real terms for most of the period since the financial crisis, and inflation in February fell to zero, helped by lower fuel costs which have put more money in the pockets of households.
UK retail sales stronger than expected in February
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