UK Retail Sales Fall More Than Forecast
(RTTNews) - UK retail sales declined more than expected in March, figures from the Office for National Statistics revealed Friday.
Retail sales including automotive fuel decreased 1.8 percent month-on-month in March, reversing a 1.7 percent rise in February. Sales were forecast to fall moderately by 0.5 percent.
Excluding auto fuel, retail sales volume declined 1.5 percent, in contrast to a 1.6 percent rise a month ago and bigger than the expected 0.5 percent drop.
On a yearly basis, growth in retail sales volume eased more-than-expected to 1.7 percent from 3.7 percent. Economists had forecast a 3.3 percent increase.
Excluding auto fuel, retail sales grew 2.6 percent, slower than February's 4.1 percent increase and the expected 3.8 percent.