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Retail sales fell in February.

Summary: Retailers suffered their worst sales performance in nine months in February, official figures show.

Retailers suffered their worst sales performance in nine months in February as families continued to curb their spending, official figures show.

Retail sales volumes fell by a higher-than-expected 0.8 per cent between January and February, the Office for National Statistics said.

This was driven by a weak show from the clothing and household goods sectors.

Hopes for growth in the wider economy in the first quarter of the year were dealt a further blow, as retail sales volumes in January were downwardly revised to 0.3 per cent from an estimate of 0.9 per cent.

A recent fall in inflation from above 5 per cent has eased the squeeze on household finances.

However, February's figures, which also revealed a 0.4 per cent drop in retail sales values, show consumers are still reluctant to spend.

Independent Television News Limited 2011. All rights reserved.

Independent Television News Limited 2012. All rights reserved.

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Publication:Independent Television News Limited (ITN)
Date:Mar 22, 2012
Words:176
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