Spending is on the up
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Retail sales in the UK rose strongly between January and February, according to offical figures from the Office for National Statistics (ONS).
The figures showed a 2.1% rise in retail sales volumes in February, following a sharp fall the month before when volumes fell by 3%
Economists said the rise in sales was expected, as sales in January were suppressed due to poor weather.
“Sales in January had been hurt very badly by the weather and the reintroduction of VAT.’ Said Sarah Hewin, senior economist at Standard Chartered.
“We have to becautious about sayng that consumption is on an upward trend, however. Overall spending is still relatively weak.”
In temrms of value, sales for February were up 1.9% compared with January, or 5% up on a year ago.
By Deepika Dudakia
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