March 21, 2013

Retail volumes, spending increase 2.6% for February 2012

Retail sales volumes in the UK increased 2.6% for the month of February 2013, while the increase in value terms amounted to the same.

By admin-demo

The amount spent in the retail sector for the four week period stood at £25.4bn with the prices of goods sold in the retail sector, as measured by the implied price deflator, increasing 0.7%, when compared to 2012 figures.

Monthly retail spends in February averaged at £6.3bn per week as again £6.1bn in the earlier month.

The increase for the month was aided by an approximate 1.2% increase in non-store retailing sales as well as 2.4% increase in non-food sales.

Fuel station and food-store sales for the month declined 0.4% and 0.3% respectively.

Commenting on the returns, British Retail Consortium director general Helen Dickinson termed the figures to be reassuring signs for the retail sector.

Dickinson, however, warned that it would be too to draw any conclusions on how permanent the upturn would last.

"Yesterday’s Budget brought some good news for consumers which should help to lift the mood further and build on this boost to spending power, but it was disappointing that direct help for high streets barely had a look-in.

"This gradual growth certainly can’t be taken for granted, as the mixed picture of the last few months confirms that the path to recovery remains a fragile one," opined Dickinson.

Online sales totaled £540.5m on a weekly average during the reporting month and represented a 10.1% growth over February 2012 levels.

The amount spent online accounted for 9.7% of all retail spending excluding automotive fuel.