24Business

Retail UK surpasses forecasts for an increase 1% in February


Unlock free Digest editor

The British retail unexpectedly increased by 1 percent in February, launched by increasing in department stores, as well as clothing stores and household products.

The monthly data of the National Statistics Office on Friday showed that the amount of goods purchased exceeded the 0.4 -long contraction that the economists who surveyed Reuters.

However, the number reduced 1.4 percent in January.

Retail sale increased by 0.3 percent in three months to February compared to the previous three months, indicating resistant consumption despite the background of poor economic growth and low consumer trust.

The amount of supermarket sales decreased after a strong increase in January.

Separate data on Friday confirmed that the economy in the UK ended in 2024 with a growth of only 0.1 percent in the fourth quarter, emphasizing the challenge that the Government faced the insurance of the energy for the energy of the economy.

The revised official data showed that during the year the Great Britain’s economy increased by 1.1 percent, slightly more than an initial estimate of 0.9 percent. A growth of 0.4 percent in 2023 followed.

Chancellor Rachel Reeves vowed to start a stronger growth by mitigating regulation, overhaul of planning rules and supporting major projects, including a new runway at Heathrow’s London Airport.

But the economy is struggling to gain momentum, with the budget responsibility office reduced its 2025 growth screenings this week. To only 1 percent.

The data on Friday showed that a real GDP per head fell by 0.1 percent in the fourth quarter – in accordance with the previous estimate – and was flat during the year.

This is a development story



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Social Media Auto Publish Powered By : XYZScripts.com