First Increase Since December, Online Shopping Continues to Grow
- Retail sales increased by 0.8% in February compared to January
- Increases seen across all main sectors except non-food stores
- First increase after two monthly declines in December and January
- Overall decrease of 0.4% in three months to February
- Year-on-year growth rate was 1.5% compared to 3.3% in February 2017
- Price rise across all sectors, but at a lower rate than previous month
- Online sales accounted for 17.2% of retailing in February
- Proportion of online spending increased from 15.6% in February 2017
Retail sales experienced a much-needed boost in February, increasing by 0.8% compared to the previous month, according to data from the Office for National Statistics (ONS). This marked the first increase after two consecutive months of decline in December and January, resulting in an overall decrease of 0.4% over the three months leading up to February. While year-on-year growth slowed down from 3.3% in February 2017 to 1.5%, it has remained stable since November 2017. Prices rose across all sectors, but at a lower rate than the previous month due to a slowdown in price growth. Online sales continued their upward trend, accounting for 17.2% of all seasonally adjusted retailing in February, up from 15.6% in the same month last year. ONS senior statistician Rhian Murphy commented on the figures: ‘Retail sales did grow in February, with increases seen in food, non-store and fuel, but this followed two months of declines in these sectors. However, the underlying three-month picture is one of falling sales, mainly due to strong declines across all sectors in December.’
Factuality Level: 8
Factuality Justification: The article provides accurate information about retail sales figures, sector-wise breakdown, year-on-year comparison, and online sales trends. It also includes quotes from an ONS senior statistician to support the data presented.
Noise Level: 3
Noise Justification: The article provides relevant information about retail sales trends and includes data from the Office for National Statistics, but it lacks analysis or exploration of potential causes or consequences of these trends. It also does not offer actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Retail sales and online retailers
Financial Rating Justification: The article discusses changes in retail sales and their impact on various sectors, including non-food stores and online retailing, which can affect the financial performance of companies within these industries.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
www.retailsector.co.uk