British Retail Sales Remain Steady in February

British retail sales defied expectations by holding steady in February, following a revised 3.6% increase in January, according to figures released by the Office for National Statistics on Friday.

Economists surveyed by Reuters had anticipated a 0.3% decline in sales volumes for the month.

Heather Bovill, senior statistician at the ONS, noted growth in clothing sales, rebounding from recent declines as consumers invested in new season collections, along with increased activity in department stores. However, these gains were offset by decreases in fuel sales, likely impacted by rising prices, and a reduction in food sales.

Compared to the same period last year, sales volumes were down by 0.4%.

The release of the data had minimal immediate impact on the value of the pound against the U.S. dollar.

Bovill attributed the impact of wet weather on in-store sales during the month, while also highlighting a boost to online shopping activity.