UK retail sales fell 0.4 percent in February as morale fell
British retail sales volumes dropped by 0.4 percent in February while consumer confidence hit a multi-month low. Retailers remain cautious about future costs.
Retail sales volumes in the United Kingdom fell by 0.4% in February, according to official data released on Friday. This contraction occurred just before the anticipated economic impact of the conflict in Iran, which has begun to sap household disposable income through significantly higher energy costs.
While the 0.4% decline reported by the Office for National Statistics was slightly better than the 0.7% drop predicted by economists in a Reuters poll, the broader outlook remains fragile. Consumer sentiment has weakened following the start of military strikes by the United States and Israel, which have contributed to a 50% surge in global oil prices.
