UK Retail Sales Beat In February, But Consumer Confidence Cracks
- Sales Outperform Across the Board - Online Spending Provides Further Cushion - GfK Gauge Hits 11-Month Low as War Anxiety Mounts - Economists Warn of Slowdown Ahead
LONDON, March 27 – British retail sales fell less than expected in February, official data showed on Friday, though a fresh drop in consumer confidence signalled that households may rein in spending in the months ahead.
The Office for National Statistics said retail sales fell 0.4% on the month in February, compared with analyst expectations of a 0.7% decline. January's reading was revised up to a 2.0% rise. Year-on-year, sales grew 2.5%, beating the 2.1% forecast and slowing sharply from a revised 4.8% in January.
Sales excluding automotive fuel also fell 0.4% on the month, outperforming the forecast for a 1.0% drop and easing from a 2.2% decline in January. On an annual basis, the measure rose 3.4%, above the 2.7% expected and down from 5.9% previously.
The three-month picture was more resilient. Sales in the three months to February rose 0.7% compared with the three months to November, driven by stronger non-store retailer volumes following a weak November and robust art sales in January.
Hannah Finselbach, senior statistician at the ONS, said online spending values rose 1.9% in the three months to February versus the prior three-month period. On the month, online sales increased 0.6%.
Confidence weakens
Separate survey data released earlier on Friday pointed to mounting consumer anxiety over the impact of the Middle East conflict.
The GfK Consumer Confidence Index fell to -21 in March from -19 in February, its lowest reading in 11 months. Respondents registered the sharpest deterioration on the 12-month economic outlook, citing concern over the conflict's impact on energy bills and broader macroeconomic uncertainty.
Ashley Webb, UK economist at Capital Economics, said the retail figures were better than most had anticipated but cautioned that the drop in confidence was a warning signal. "We think the combination of a rebound in CPI inflation, easing wage growth, and higher unemployment in our baseline scenario will mean consumer spending growth slows from 1.0% in 2025 to just 0.1% this year."
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- Sales Outperform Across the Board
- Online Spending Provides Further Cushion
- GfK Gauge Hits 11-Month Low as War Anxiety Mounts
- Economists Warn of Slowdown Ahead
By Harry Daniels
LiveSquawk News
@HarryDaniels71
27 March 2026 | 16:30 GMT
LONDON, March 27 – British retail sales fell less than expected in February, official data showed on Friday, though a fresh drop in consumer confidence signalled that households may rein in spending in the months ahead.
The Office for National Statistics said retail sales fell 0.4% on the month in February, compared with analyst expectations of a 0.7% decline. January's reading was revised up to a 2.0% rise. Year-on-year, sales grew 2.5%, beating the 2.1% forecast and slowing sharply from a revised 4.8% in January.
Sales excluding automotive fuel also fell 0.4% on the month, outperforming the forecast for a 1.0% drop and easing from a 2.2% decline in January. On an annual basis, the measure rose 3.4%, above the 2.7% expected and down from 5.9% previously.
The three-month picture was more resilient. Sales in the three months to February rose 0.7% compared with the three months to November, driven by stronger non-store retailer volumes following a weak November and robust art sales in January.
Hannah Finselbach, senior statistician at the ONS, said online spending values rose 1.9% in the three months to February versus the prior three-month period. On the month, online sales increased 0.6%.
Separate survey data released earlier on Friday pointed to mounting consumer anxiety over the impact of the Middle East conflict.
The GfK Consumer Confidence Index fell to -21 in March from -19 in February, its lowest reading in 11 months. Respondents registered the sharpest deterioration on the 12-month economic outlook, citing concern over the conflict's impact on energy bills and broader macroeconomic uncertainty.
Ashley Webb, UK economist at Capital Economics, said the retail figures were better than most had anticipated but cautioned that the drop in confidence was a warning signal. "We think the combination of a rebound in CPI inflation, easing wage growth, and higher unemployment in our baseline scenario will mean consumer spending growth slows from 1.0% in 2025 to just 0.1% this year."