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UK retail income were unchanged connected a month-on-month ground successful March, defying expectations for a gain, preliminary information from the Office for National Statistics showed Friday.
Retail income including automotive substance grew 0.1 percent successful the erstwhile month. Economists were looking for a 0.3 percent summation for March.
This was the weakest result since December, erstwhile income shrunk 3.5 percent.
Excluding car fuel, retail income decreased 0.3 percent, reversing a akin size summation from the erstwhile month. This was the archetypal diminution successful 3 months.
Automotive substance and non-food stores income volumes grew 3.2 percent and 0.5 percent, respectively.
In March, automotive income reached their highest scale level since May 2022 and retailers attributed the emergence to accrued footfall connected their forecourts.
These were offset by declines of 0.7 percent and 1.5 percent, respectively, successful nutrient stores and non-store retailers. Increased prices damped user spending habits, the ONS said.
On a year-on-year basis, retail income roseate 0.8 percent successful March aft a 0.3 percent autumn successful February. This marked the biggest summation since March 2022, erstwhile income grew 1.8 percent from the erstwhile year.
Core retail income roseate 0.4 percent from the aforesaid period past year, reversing the 0.4 percent driblet from the erstwhile month.
Sales volumes remained 1.2 percent beneath their pre-coronavirus pandemic level successful February 2020.
In the archetypal quarter, retail income volumes grew 1.9 percent from the erstwhile 3 month, pursuing debased income volumes implicit the Christmas play for retailers.
Online retail income edged up 0.1 percent monthly successful March and were higher by 1.7 percent from a twelvemonth ago.
The stock of online income roseate from 25.8 percent successful February to 25.9 percent successful March.
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