UK February retail sales +1.0% vs -0.4% m/m expected

• Prior +1.7%; revised to +1.4%
• Retail sales +2.2% vs +0.5% y/y expected
• Prior +1.0%; revised to +0.6%
• Retail sales (ex autos, fuel) +1.0% vs -0.5% m/m expected
• Prior +2.1%; revised to +1.6%
• Retail sales (ex autos, fuel) +2.2% vs +0.4% y/y expected
• Prior +1.2%; revised to +0.8%

That’s a notable beat with non-food store sales carrying the monthly increase, rising by 3.1% on the month. That puts the monthly sales volume in that category at its highest since March 2022. Besides that, household goods store sales also shot up by 6.8% on the month – its largest increase since April 2021, owing to a surge in hardware store sales in particular.

Meanwhile, food store sales were down 2.0% on the month with supermarkets being the biggest drag in that area as retailers point to increasing prices as the main factor.

This article was written by Justin Low at www.forexlive.com.