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British retail sales increased unexpectedly by 1% in February, powered by an increase in department stores as well as by household and household items.
Friday’s monthly data from the National Statistics Office showed that the volume of goods purchased exceeded the 0.4% expected contraction expected by the economists interviewed by Reuters.
However, the figure did not reach the increase of 1.4% of January.
Retail sales increased by 0.3% in the three months until February compared to the previous three months, indicating resilient spending despite the context of low economic growth and low consumer confidence.
Supermarket sales volumes reproduce following a strong increase in January.
Friday, separate data confirmed that the British economy ended 2024 with growth of only 0.1% in the fourth quarter, stressing the challenge that the Labor government is confronted with its wishes to energize the economy.
The official official figures have shown that during the year, the British economy increased by 1.1%, a little more than the initial estimate of 0.9%. This followed growth of 0.4% in 2023.
Chancellor Rachel Reeves has promised to launch stronger growth by teeming the regulations, revising planning rules and supporting major projects, including a new track at Heathrow airport in London.
But the economy is struggling to gain momentum, the office of budgetary responsibility this week reducing its growth projections in 2025 to only 1%.
Friday data showed that real GDP per capita had dropped 0.1% in the fourth quarter – in accordance with the previous estimate – and was stable during the year.
It’s a story in development
