Retail sales climb in March says ONS
Retail sales volumes rose by 4.2% year-on-year in March according to figures released by the Office for National Statistics.
Compared to February 2014, sales volumes edged up 0.1%.
Non-food stores saw the highest year-on-year increase since April 2002 with sales rising by 9.6%. The ONS said the growth was partly a reflection of weak comparisons with March 2013 which was the second coldest March on record.
However, food store sales declined by 2.3% which was the largest year-on-year decrease since April 2013.
Never Miss a Retail Update!Looking at the amount spent in the retail industry in March, this increased by 3.9% compared with March 2013 and by 0.3% compared with February 2014. ONS non-seasonally adjusted data shows that the average weekly spend in the retail industry in March 2014 was £6.7 billion compared with £6.6 billion in March 2013 and £6.5 billion in February 2014.
The amount spent online increased by 7.1% year-on-year in March and by 1.4% compared with February 2014.
The ONS also revealed retail sales figures for the first quarter 2014. Sales volumes were up 3.8% in the first three months of the year compared with the first quarter of 2013.
Commenting on the figures Richard Lowe, head of retail & wholesale at Barclays, said: “Today’s figures reflect what we have been hearing from our clients about consumers returning to the high street, with Mother’s Day last month playing a role in encouraging shoppers to spend on small gifts. Spring has sprung, the new Summer fashion ranges are now in, and retailers will be expecting the brighter weather to continue to entice shoppers online and into stores.”
