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24 Mar 2016
UK retail sales drop in February
The data released by the UK Office for National Statistics (ONS) released today confirmed the sharp slowdown in the retail sales showed by British Retail Consortium figures released on March 7th.
The headline figure dropped 0.4% m/m, but bettered the estimated drop of 0.7%. The annualized number matched estimate of 3.8%. Meanwhile, core figure rose 4.1% y/y, beating the estimated figure of 3.4%.
Increased rainfall across the month saw clothing purchases down 2.4% on the year and 0.4% on the month.
The headline figure dropped 0.4% m/m, but bettered the estimated drop of 0.7%. The annualized number matched estimate of 3.8%. Meanwhile, core figure rose 4.1% y/y, beating the estimated figure of 3.4%.
Increased rainfall across the month saw clothing purchases down 2.4% on the year and 0.4% on the month.