March retail sales down

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Retail sales fell 0.4% last month in the UK, a bigger fall than expected, official figures show. Sales in the three months to March were  2% higher than the last three months, the highest rate since July 2006, in a sign of consumer resilience, according to the BBC

Monthly sales growth was revised up in January and February, the Office for National Statistics said, indicating that consumer spending is holding up.

Textiles, clothes and footwear sales fell 1.7% on the month and 0.1% on the year, in the sector’s first annual drop since December 1998.

February sales were revised up from 1% to 1.1%, while January sales were revised up to 1.5% from 1.1%.

Earlier this month, the British Retail Consortium (BRC) warned that retail sales declined in March, their first fall in almost two years.