Slight uplift in February is not enough to make up for weak December and JanuaryTough trading conditions for Britain’s hard-pressed retail sector eased slightly in February, according to official figures showing the first increase in sales in three months. The Office for National Statistics said retail sales volumes were up by 0.8% last month but that the increase was not enough to make up for the weakness of spending in December and January – two crucial months for the sector. Rhian Murphy, the ONS senior statistician, said: “Retail sales did grow in February, with increases seen in food, non-store and fuel, but this followed two months of decline in these sectors. “However, the underlying three-month picture is one of falling sales, mainly due to strong declines across all main sectors in December.”High street gloom: which chains are feeling the pain? “Overall, then, the retail sector looks set to act as a small drag on overall GDP growth in the first quarter,” she said.

Source: The Guardian March 22, 2018 11:15 UTC