Retail sales continued to rise for the fourth consecutive month in February. The British Retail Consortium said that like-for-like sales rose 0.6 percent in February, compared with the same period the year before. Sales climbed 0.2 percent in January. Total sales, which include all floor space, rose 3.5 percent, up marginally form 3.4 percent in January.
The BRC said floor space was growing, based on a growth rate for total sales up to 4.2 percent, but director general Kevin Hawkins warned: “These results underline yet again the continuing squeeze on consumer spending and, contrary to the Bank of England’s expectations, there is no sign of an upturn.” Department store sales picked up during the month, which the BRC said was thanks to Valentine’s Day. Leisure goods also showed some growth, but clothing sales remained generally flat. Growth in household spending, of which retail sales make up less than half, grew at its fastest rate in a year at the end of last year.