UK Retail Sales up massively

inspector_monkfish

2.1% compared to 0.7% forecast, and -1.8% last month

lostinrates

Yep, I did find things to buy, at last.

System

inb4 sarcastic weather comments from mewbie and Graham.

inspector_monkfish

09:30 25Mar10 -UK retail sales jump in Feb after poor Jan

LONDON, March 25 - British retail sales bounced
back in February after a dismal January, helped by a record
increase in household goods sales, the Office for National
Statistics said on Thursday.

*******************************************************

KEY FIGURES FOR UK RETAIL SALES

FEB JAN F'CAST
% MM (incl. fuel) 2.1 -3.0 (-1.8 pvs) +0.7
% YY 3.5 -0.8 (+0.9 pvs) +3.2
% MM (ex. fuel) 1.6 -2.1 (-1.2) N/F


KEY POINTS
- Biggest monthly rise in sales volume since May 2008
- Biggest yy rise in sales volume since October 2009
- Biggest monthly rise in household goods stores sales since
records began in January 1988

inspector_monkfish

09:30 25Mar10 - UK retail sales bounce in Feb as household goods surge

LONDON, March 25 - British retail sales bounced back in February after a dismal January, helped by a record increase in household goods sales, official data showed on Thursday.

The Office for National Statistics said sales volumes including automotive fuel jumped 2.1 percent last month, the biggest increase since May 2008 and three times as fast as analysts had forecast.

Year on year, sales were up 3.5 percent, the biggest increase since October and slightly faster than economists' forecast of a 3.2 percent rise.

There was a sharp downward revision to January, where late returns and changes to data processing at the ONS caused the initial estimate of a 1.8 percent fall in sales to be increased to a drop of 3.0 percent, the biggest since June 2008.

January saw Britain's iciest weather in 30 years, forcing many shops and businesses to close and making it hard for shoppers to travel.

Household goods sales surged in February, rising by 11.2 percent, the biggest monthly increase since records began in January 1988. The ONS said sales of electrical items did particularly well.

The bounce in sales coincided with a drop in the retail sales deflator, which eased to 1.6 percent from January's 3.0 percent, which was the highest level since September 2008.

Excluding fuel, retail sales rose 1.6 percent on the month and were up 5.4 percent on the year, the fastest annual growth since May 2008.

kennyboy66_2

Yet another econoimic indicator moving the right way.

The Tories better rustle up some policies quick.

It may be tough to win an election on "Brown's a ****" and not much else.

Really2

Joeskeppi wrote: »

inb4 sarcastic weather comments from mewbie and Graham.

Well looks like the argument snow does not have an effect on things argument has thawed..............Get it.

Ill get my coat.

Blacklight

I said it a few times at the back end of last year - people have pots of cash they've been hoarding through fear of losing their jobs. Now we're a bit more stable and things are picking up again people are willing to part with a bit of that cash. They're all fed up with the big BBC downward pointing arrow of doom and talk of impending apocalypse.

lemonjelly

Looks to me like a combination of deferred purchases (due to bad weather/other factors), a little bit of sunshine, & a general fed upness with going without.

Even I am starting to buy stuff.

I still feel consumer spending will be very up & down this year.

lemonjelly

Really2 wrote: »

Well looks like the argument snow does not have an effect on things argument has thawed..............Get it.

Ill get my coat.

Sorry, that is so bad even I can't bring myself to thank it...:D

nembot

I think it's raining, i'll buy online