THE year-on-year pace of growth in UK retail sales value accelerated from 3% in January to 4.4% in February – the fastest rate for three years excluding distortions relating to the timing of Easter – industry figures show today.
The survey, published by the British Retail Consortium, provides some relief amid a slew of gloomy economic indicators at a time when the UK economy is in danger of recording its third recession since 2008.
However, the BRC survey painted a much more upbeat picture of January retail sales than official data.
With the BRC having calculated annual UK shop-price inflation at 0.6% in January, its latest retail sales figures imply robust year-on-year growth in volumes in February on its measure.
The BRC declared that, excluding distortions created by the timing of Easter in previous years, the 4.4% year-on-year growth in total UK retail sales value last month was the strongest since February 2010.
Edinburgh-based David McCorquodale, head of accountancy firm and BRC survey sponsor KPMG's UK retail practice, said: "Whilst one shouldn't read too much into one month's figures, February's data will provide a much-needed fillip to retailers' confidence levels.
"Against all expectations, retail sales rose this month to achieve the strongest underlying (year-on-year) sales growth for three years."
The BRC figures show strength in sales of clothing and health and beauty products in February. The consortium also highlighted strong sales of bedroom furniture, sofas, and beds, with many retailers noting that purchases in this category had been made at full price.
And the survey showed sales of computers, including tablets, remained buoyant in February.
However, Mr McCorquodale highlighted "sluggish" sales in the food and drink category in February.
Helen Dickinson, BRC director-general, said: "After the disappointing figures that brought 2012 to a close, it's reassuring that the sales momentum established during an encouraging January has built, not faded.
"There are certainly highly-welcome signs here of gradual improvement and customers feeling a bit more positive."
She added: "February saw growth across all parts of retailing, with big-ticket goods and items for the home recovering particularly well, possibly reflecting better conditions in the housing market."
However, official UK retail sales figures have recently painted a bleaker picture of the high street than the BRC's survey.
Figures published by the Office for National Statistics in February showed that UK retail sales volumes fell by 0.6% month-on-month in January.
This fall meant sales volumes in January were down 0.6% on the same month of 2012 on the ONS measure.
Today's BRC sales figures also contrast with the Confederation of British Industry's latest distributive trades survey, which last week signalled a sharp slowdown in year-on-year growth in UK retail sales volumes in early February to its weakest pace since last September.
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