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- UK retail sales unexpectedly fell in February
UK retail sales unexpectedly fell in February
Office for National Statistics said, in the three months to February 2020, the quantity bought in retail sales fell for the fourth consecutive month by 0.6%; this was across all stores except non-store retailing.
In February 2020, the monthly growth rate in the quantity bought fell by 0.3%, with a range of retailers providing feedback on the adverse effect of the extreme rainfall on sales. Economists had expected a 0.2% increase
When compared with the same month a year earlier, February 2020 remained flat; the lowest year-on-year growth rate since March 2013 at negative 1.6%. Economists had expected a 0.8% increase
Online sales as a proportion of all retailing was 19.6% in February 2020, up from the 19.1% reported in January 2020.
The data collection for the period was completed by 29 February and is largely unaffected by recent developments with the coronavirus; however, a small number of retailers suggested that online orders shipped from China were reduced because of the impact of COVID-19.
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