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UK Feb Retail Sales Up Despite Continued Lockdown

UK DATA
MNI (London)

UK FEB RETAIL SALES +2.1% M/M; -3.7% Y/Y

UK FEB RETAIL SALES EX-FUEL +2.4% M/M; -1.1% Y/Y

UK JAN TOTAL SALES UNREVISED AT -8.2% M/M

UK FEB RETAIL SALES DEFLATOR -0.6% Y/Y; EX-FUEL -0.4% Y/Y

UK retail sales rebounded in Feb despite the ongoing lockdown, rising by 2.1%, in line with market forecasts. Feb's reading marks the highest increase since July, although sales rose from a low base. This month's increase was led by sharp gains for non-specialised stores and household goods stores, up 16.2% and 16.1%, respectively. The ONS noted spending on home improvement and outdoor products ticked up as consumers prepare for the easing of restrictions. Food and department stores remain open and budget-end department stores reported higher sales. On the other hand, the clothing and footwear sector saw another disappointing month, with sales falling by 9.7% m/m and 50.4% y/y. Meanwhile, the proportion spent online surged to a record high of 36.1% in Feb.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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