Economic Buzz: UK Retail Sales Drop 0.3% On Month In February

25 Mar 2022 , 01:43 PM

UK retail sales volume dropped 0.3 percent month-on-month in February, in contrast to the 1.9 percent increase in January, data from the Office for National Statistics revealed on Friday. Excluding auto fuel, retail sales volume decreased 0.7 percent, reversing the 1.7 percent increase a month ago. Food store sales fell 0.2 percent on month with large falls in alcohol and tobacco stores. Meanwhile, non-food store sales advanced 0.6 percent, underpinned by the 13.2 percent rise in clothing and 1.3 percent increase in department store sales. On a yearly basis, retail sales grew 7.0 percent but slower than the revised 9.4 percent increase logged in January and the expected 7.8 percent rise.

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