British retailers racked up surprisingly strong sales last month, reinforcing ho...
LONDON - British retailers racked up surprisingly strong sales last month, reinforcing how spending by consumers is a bright spot for the economy ahead of Brexit.
Mild weather last month boosted spending at garden centers and on sporting equipment, offsetting a fall in spending at supermarkets and in clothing stores after sales promotions in January, the Office for National Statistics said.“It is possible that some consumers brought forward purchases amid concern prices could rise if a disruptive Brexit at the end of March sees sterling weaken sharply,” Howard Archer of economic consultancy EY ITEM Club said.
Thursday’s data showed sales volumes in February alone rose 0.4 percent versus a forecast of a decline in the Reuters poll.Falling inflation, a steady rise in wages and the lowest unemployment since 1975 have all boosted household incomes over the past year, though wages are still below their peak before the financial crisis after factoring in inflation.
With just one month remaining of the current financial year, government borrowing totaled 23.1 billion pounds, down 44 percent from the same point in 2017/18 and the lowest since 2001/02, though these figures are likely to be revised further.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK Brexit secretary: Government still wants third Brexit deal voteStephen Barclay says Commons speaker’s ruling raises risk of no Brexit.
Read more »
May piles pressure on British lawmakers to back Brexit dealPrime Minister Theresa May piled pressure on rebel lawmakers on Thursday to back...
Read more »
British lawmakers vote to seek Brexit delayBritish lawmakers facing a March 29 Brexit deadline voted Thursday to seek a delay in the nation’s breakaway from the European Union.
Read more »
British lawmakers overwhelmingly back Brexit delayLawmakers approved by 412 votes to 202 a statement setting out the option to request a short delay if a Brexit deal can be agreed by March 20 -- or a longer delay if no deal can be agreed in time. Just 15 days before Britain is due to leave the European Union, May is using the threat of a long delay
Read more »
MPs overwhelmingly back Brexit delayMPs voted overwhelmingly on Thursday to seek a delay in Britain's exit from...
Read more »
British parliament backs Brexit delayLawmakers also rejected a call to use that time to hold a second Brexit referendum - a blow to the hopes of a large swath of Britons who still dream of keeping their European identities.
Read more »
France ready to veto any meaningless Brexit delay: Elysee officialFrance is ready to veto any British request for a Brexit delay that either kicks...
Read more »
British leaders struggle to deliver Brexit after being tripped up by obscure parliamentary rulePrime Minister Theresa May could call in the queen to get things unstuck, but prefers not to.
Read more »
Tea, prayers and Brexit - church to promote unity at cafe-style meetingsBritish churchgoers will be encouraged to discuss Brexit over tea and prayers as...
Read more »
Brexit crisis tipped for British asparagus as EU seasonal workers stay awayBritish asparagus is feted by chefs as among the world’s best, but a Brexit-induced seasonal worker shortage threatens the industry
Read more »