UK data, BRC like-for-like retail sales (Feb) -0.1% y/y

  • expected +0.1% y/y, prior +1.8%

total sales +0.5% y/y (prior +2.2%)

BRC Chief Executive Helen Dickinson:

  • Uncertainty surrounding the UK's imminent exit from the European Union has hit consumer spending
  • While real incomes have started to rise over the past year, shoppers have been reluctant to spend this February, holding back growth

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The "like-for-like" sales basis strips out changes in store size