Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK retail sales slumped by 0.3% in February, falling well short of the 0.6% gain predicted by City analysts, with food sales remaining weak, the Office for National Statistics said Friday.
Supermarket sales declined by 0.2% last month, extending a 1.6% plunge in January, the fourth straight decline. That takes food sales 0.1% below pre-pandemic levels. The ONS noted falls in alcohol and tobacco sales, suggesting more people are now eating and drinking outside the home.
Non-food sales rose by 0.6%, lifted by a 13.2% surge in clothing sales, as consumers return to offices and grow more comfortable socialising. Department store sales increased by 1.3%. However, household goods sales declined by 2.5%, while other store sales fell by 7.0%. Petrol sales rose by 3.6%, taking transactions 0.9% above pre-pandemic levels for the first time since February of 2020. The survey period ran through Feb 26, the ONS said.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.