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| UK retail sales fell 0.8% in February, ONS says | UK retail sales fell 0.8% in February, ONS says |
| (40 minutes later) | |
| UK retail sales volumes fell by 0.8% in February compared with the previous month, figures from the Office for National Statistics have shown. | UK retail sales volumes fell by 0.8% in February compared with the previous month, figures from the Office for National Statistics have shown. |
| The decline was bigger than expected and it was the worst month for retailers for nine months. | The decline was bigger than expected and it was the worst month for retailers for nine months. |
| Internet retailers fared best, with 10.7% of all sales now made online. | Internet retailers fared best, with 10.7% of all sales now made online. |
| January's unexpectedly strong growth in sales volumes of 0.9% was also revised down, to show an expansion of 0.3% compared with December. | January's unexpectedly strong growth in sales volumes of 0.9% was also revised down, to show an expansion of 0.3% compared with December. |
| Sales volumes figures strip out the impact of inflation. | Sales volumes figures strip out the impact of inflation. |
| Analysts suggested that the figures were further evidence of the continued squeeze on consumers. | Analysts suggested that the figures were further evidence of the continued squeeze on consumers. |
| "It's not just that the February numbers are weaker than anticipated, but January is also heavily revised down," said Peter Dixon from Commerzbank. | "It's not just that the February numbers are weaker than anticipated, but January is also heavily revised down," said Peter Dixon from Commerzbank. |
| "The hoped-for recovery [in] consumer spending certainly doesn't look to be there." | "The hoped-for recovery [in] consumer spending certainly doesn't look to be there." |
| Earlier, Next, one of the UK's biggest clothes retailers, said the outlook for the year was "very uncertain" because of poor employment prospects and the lack of availability of credit. | |
| However, it welcomed the slowdown in the rise of the cost of living and predicted that this should continue to ease in 2012. | |
| Some of the biggest sales falls were seen in clothing and footwear, where sales volumes were down 0.4%. | |
| Sales in food stores were 0.1% lower than January, the ONS said, but 1% higher in February than a year earlier. | |
| Overall sales volumes were also 1% higher than in February 2011. | |
| This increase over the year was described as "very good", with one analyst forecasting that consumer confidence would recover in 2012. | |
| "February was the only month we've had bad weather really this winter and so the comparison is with a month when the weather was a little bit better," said Richard Perks, an analyst from Mintel. | |
| "Although this year's going to be quite tough, the next stage is going to be a modest improvement. And of course also this year we've got the Jubilee and the Olympics, which are going to be great for consumer confidence." |