Hurrah! UK retail sales in February up 3.7% on previous year

UK retail sales rose 3.7% in February compared to the same month last year.

According to the Office for National Statistics, the figures were up 1.7% on the previous month.

David Kern, chief economist at the British Chambers of Commerce (BCC) said:

“Following last month’s unusually large fall, the 1.7% increase was unsurprising. The longer-term comparison continues to show strong growth in consumer spending at a pace higher than the increase in total GDP. These figures support our view that GDP growth will be around 0.7% in the first quarter of 2014.

“While it is important that consumer spending remains an important part of total growth, our recovery must be more balanced. Unless exports and investment make a greater contribution there are risks that our recovery could stall.”

Follow us on LinkedIn

Now read:

America’s most wanted: Can US retailers conquer London?

Social Bookmarks