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Retail sales rise 2.1%

By admin
Created 25/03/2010 - 11:53
UK retail sales rose 2.1% in February from January, according to data released by the Office for National Statistics.

The rise in sales was expected as figures in January were subdued due to poor weather and VAT reverting back to 17.5%. Compared with February last year sales were up 3.5%.

"Better than expected retail sales, though partly explained as a rebound from the weather-related slump in January, reduce the risk that GDP may fall in the first quarter of 2010," said David Kern, chief economist at the British Chambers of Commerce.

"Although the economy remains weak and retailers are still struggling, these positive figures provide a more favourable background for the next government to present a more credible plan for tackling the UK's unsustainable public finances."

Source URL:
https://www.newbusiness.co.uk/news/retail-sales-rise-21