UK Retail Sales Rise in February 0.7%

March 26, 2015 Share Print 0

UK retail sales grew more strongly than expected in February, up 0.7% compared with the previous month, according to the Office for National Statistics.

Compared with February 2014, sales were 5.7% higher, boosted by the recovery in the housing market, the ONS said.

Rising home sales boosted purchases of products such as furniture.

Average store prices fell for the eighth consecutive month, falling by 3.6% in February 2015 compared with a year earlier.

The largest contribution to the drop in prices came from the slide in fuel prices, which fell more than 15% over the year to February 2015.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.