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UK retail sales unexpectedly rose in March
According to the report from Office for National Statistics, in the three months to March 2019 (Quarter 1), the quantity bought in retail sales increased by 1.6% when compared with Quarter 4 (Oct to Dec) 2018, following sustained growth throughout the first three months of the year. All store types except department stores and household goods stores increased in the quantity bought in the three months to March 2019, when compared with the previous three months.
The monthly growth rate in the quantity bought in March 2019 increased by 1.1%, with food stores and non-store retailing providing the largest contributions to this growth. Economists had expected a 0.3% decrease.
Year-on-year growth in the quantity bought increased by 6.7% in March 2019, the highest since October 2016, with a range of stores noting that the milder weather this year helped boost sales in comparison with the “Beast from the East” impacting sales in March 2018. Department stores were the only store type to decrease in the quantity bought when compared with March 2018, with a fall of 0.3% in March 2019. Online sales as a proportion of all retailing increased to 18.6% in March 2019, from the 18.1% reported in February 2019.
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