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UK retail sales bounce back in February

Retail spending recovered in February after a slump in December and January, data from the Office for National Statistics (ONS) shows.

Retail sales volumes in February were up 3.7% on the same month in 2016 and up 1.4% on the previous month. This is despite the fact prices of goods were 2.8% higher in February than a year earlier.

However, in the three months to February, sales were down 1.4% on the previous quarter.

Senior ONS statistician Kate Davies said: “February’s retail sales figures show fairly strong growth, although the underlying three-month picture shows falling sales as February’s figures follow two consecutive months of decline in December and January.

“The monthly growth in February is seen across all store types. The underlying trend suggests that rising petrol prices in particular have had a negative effect on the overall quantity of goods bought over the last three months.”

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