UK February retail sales 0.0% vs -0.3% m/m expected

• Prior +3.4%; revised to +3.6%
• Retail sales -0.4% vs -0.7% y/y expected
• Prior +0.7%; revised to +0.5%
• Retail sales ex autos, fuel +0.2% vs -0.1% m/m expected
• Prior +3.2%; revised to +3.4%
• Retail sales ex autos, fuel -0.5% vs -0.9% y/y expected
• Prior +0.7%; revised to +0.5%

The readings are better than estimated but it still points to a rather lackluster performance overall for UK retail sales in the big picture. The divergence between retail sales value and volume continues to stick, reflecting the impact of higher inflation/prices overall.

Looking at the breakdown, food store sales were down 0.3% on the month and automotive fuel sales were down 1.3% on the month. That is offset by increases in department store sales (+1.6%), other non-food store sales (+0.4%), and clothing and footwear store sales (+1.7%).

This article was written by Justin Low at www.forexlive.com.