UK retail sales were unexpectedly robust for the three months to February, with a 1 per cent rise driven by strong food sales, according to the Office for National Statistics.
Food retailers’ store sales climbed 1 per cent and sales in non-food stores inched up 0.2 per cent.
However, sales in non-specialist stores, including department stores, dropped 3.6 per cent – the largest fall since research began in 1986.
The overall retail figure was lifted by sales in non-store retailing and the repair sector, which jumped 7.3 per cent.
The relatively upbeat retail figures may persuade the Bank of England to delay another cut in interest rates. This month, the Bank kept rates on hold at 5.25 per cent.
No comments yet