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The Telegraph
The Telegraph
22 Mar 2024
Chris Price; Eir Nolsøe


Retail sales beat expectations as hopes grow for end of recession - latest updates

Retail sales defied expectations in February and dodged a predicted fall, in a boost to hopes that the UK returned to growth in the first quarter of the year. 

The volume of goods bought by shoppers last month flatlined at 0pc, ahead of market predictions of a 0.4pc fall. 

Meanwhile, the already strong sales figure for January was revised higher to 3.6pc, from 3.4pc. 

Heather Bovill, senior statistician at the Office for National Statistics, said: “There was a growth in clothing, which rebounded after recent falls as people invested in the new season’s collections, as well as department stores.However, these were offset by falls in fuel sales, possibly affected by rising prices, and a reduction in food sales.” 

Ms Bovill also highlighted that many shops noted that the wet weather had depressed in-store sales, with online instead seeing a boost. 

It comes after a damp February, which broke records for rainfall in some parts of the country. 

In a sign that inflation is easing, the amount spent by shoppers fell slightly by 0.1pc despite people buying the same amount of goods. 

The better-than-expected figure adds to growing evidence suggesting that the UK economy has started to recover after falling into a technical recession at the end of last year.

A closely watched survey of purchasing managers released on Thursday also suggested the UK grew by 0.25pc in the first three months of the year.

Read the latest updates below.