British retail sales drop for second month

British retail sales figures today fell for a second successive month as shoppers continued to curb spending amid economic uncertainty…

British retail sales figures today fell for a second successive month as shoppers continued to curb spending amid economic uncertainty.

Data from the Office for National Statistics (ONS) showed retail sales volumes eased 0.1 per cent in February after a 1 per cent decline in January.

Despite other survey evidence pointing to a weakening in consumer confidence, economists had expected an improvement in February's figure.

The decline left year-on-year sales growth at 3.2 per cent - the lowest rate since July 1999, the ONS said.

READ MORE

The figures continue the reversal of a strong surge seen in December - which included the first few days of January - as shops started sales early.

PA