Economic Buzz: UK retail sales dip in February after strong start to the year

UK retail sales volumes fell 0.4% in February, according to the Office for National Statistics, easing after a strong 2% increase in January as shoppers pulled back following earlier spending during seasonal discounts.

The monthly decline was mainly due to weaker supermarket sales and a drop in online retail activity. Despite this, overall sales remained relatively steady, rising 0.7% in the three months to February compared to the previous quarter, and increasing 2.5% from a year earlier.

Online shopping continued to show strength, with sales edging up 0.6% in February and surging 11.4% year-on-year. As a result, online purchases made up a larger share of total retail sales, reaching 28.2%.

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