Thursday, March 25, 2010
Weird retail sales
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The bad January weather complicated things enough without the Office for National Statistics' recent switch to a new definition of retail sales. So retail sales volume including petrol sales apparently plunged by 3% in January, before rebounding by 2.1% in February. A more reliable picture is provided by the old measure, excluding these volatile petrol sales. That showed a drop of 2.1% in January followed by a rise of 1.6% in February. Sales in February were in line with their fourth quarter average. More here.