Well that’s more like it. Retail sales for February fell a hefty -1.9% m/m and grew only +0.4% y/y, much weaker than had been expected, the median forecasts having been for -0.4% and +2.5% respectively.
The Office of National Statistics says sales fell in all sectors, and sees the bad weather and economic conditions behind the slump.
Cable, hardly surprisingly, has taken it on the chin, presently down at 1.4550.
