Home Economic Indicators Retail sales fail to grow in March

Retail sales fail to grow in March

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Month-on-month retail sales kin the UK stayed flat in March, undershooting consensus expectations of 0.3% growth.

Year on year, they added 0.8% after falling 0.3% in February.

Commenting on today’s data print, ONS senior statistician Heather Bovill said: “Retail sales registered no growth in March. Hardware stores, furniture shops, petrol stations and clothing stores all reported a rise in sales.

“However, these gains were offset by falling food sales and in department stores where retailers say higher prices hit trading.

“Looking at the longer-term picture, across the latest three months retail sales increased after a poor Christmas.”