AIRLINK 79.41 Increased By ▲ 1.02 (1.3%)
BOP 5.33 Decreased By ▼ -0.01 (-0.19%)
CNERGY 4.38 Increased By ▲ 0.05 (1.15%)
DFML 33.19 Increased By ▲ 2.32 (7.52%)
DGKC 76.87 Decreased By ▼ -1.64 (-2.09%)
FCCL 20.53 Decreased By ▼ -0.05 (-0.24%)
FFBL 31.40 Decreased By ▼ -0.90 (-2.79%)
FFL 9.85 Decreased By ▼ -0.37 (-3.62%)
GGL 10.25 Decreased By ▼ -0.04 (-0.39%)
HBL 117.93 Decreased By ▼ -0.57 (-0.48%)
HUBC 134.10 Decreased By ▼ -1.00 (-0.74%)
HUMNL 7.00 Increased By ▲ 0.13 (1.89%)
KEL 4.67 Increased By ▲ 0.50 (11.99%)
KOSM 4.74 Increased By ▲ 0.01 (0.21%)
MLCF 37.44 Decreased By ▼ -1.23 (-3.18%)
OGDC 136.70 Increased By ▲ 1.85 (1.37%)
PAEL 23.15 Decreased By ▼ -0.25 (-1.07%)
PIAA 26.55 Decreased By ▼ -0.09 (-0.34%)
PIBTL 7.00 Decreased By ▼ -0.02 (-0.28%)
PPL 113.75 Increased By ▲ 0.30 (0.26%)
PRL 27.52 Decreased By ▼ -0.21 (-0.76%)
PTC 14.75 Increased By ▲ 0.15 (1.03%)
SEARL 57.20 Increased By ▲ 0.70 (1.24%)
SNGP 67.50 Increased By ▲ 1.20 (1.81%)
SSGC 11.09 Increased By ▲ 0.15 (1.37%)
TELE 9.23 Increased By ▲ 0.08 (0.87%)
TPLP 11.56 Decreased By ▼ -0.11 (-0.94%)
TRG 72.10 Increased By ▲ 0.67 (0.94%)
UNITY 24.82 Increased By ▲ 0.31 (1.26%)
WTL 1.40 Increased By ▲ 0.07 (5.26%)
BR100 7,526 Increased By 32.9 (0.44%)
BR30 24,650 Increased By 91.4 (0.37%)
KSE100 71,971 Decreased By -80.5 (-0.11%)
KSE30 23,749 Decreased By -58.8 (-0.25%)

imageLONDON: British retail sales rose more strongly than expected in February, helped by last year's recovery in the housing market which boosted furniture purchases and by growth in sales in all other sectors too.

Compared with February last year, sales volumes rose 5.7 percent, the Office for National Statistics said in a set of figures which add to signs that Britain's economy is continuing to grow strongly ahead of national elections on May 7.

Retail sales rose 0.7 percent from January, the ONS said.

A 0.9 percent monthly increase in sales in non-specialized stores reflected higher furniture purchases which often lag a recovery in home sales, the ONS said.

Economists had expected a rise of 0.4 percent on the month and an increase of 4.7 percent on the year, adding to strong growth in sales at the end of last year.

In the three months to February, a smoother reading than the often volatile monthly changes, sales rose 2.0 percent, slowing from the previous month which reflected a slowdown in sales in January.

Britain's economic recovery since mid-2013 has relied heavily on consumer spending.

Wages are recovering after falling in real terms for most of the period since the financial crisis, and inflation in February fell to zero, helped by lower fuel costs which have put more money in the pockets of households.

Prices in stores fell by 3.6 percent in February, the biggest year-on-year fall since 1997 when records began, pushed down by lower fuel and food prices, the ONS said.

A previously published survey from the British Retail Consortium, an industry group, showed growth in high-street spending maintained its pace in February.

But a separate survey by the Confederation of British Industry had shown sales almost ground to a halt in the early part of last month.

Data for January was revised to show monthly growth in sales volumes of 0.1 percent, compared with an original reading that showed a 0.3 percent fall.

The retail sector accounts for nearly 6 percent of the British economy.

Copyright Reuters, 2015

Comments

Comments are closed.