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UK retail trade grows in February

UK retail trade grows in February

Mubasher: Retail sales in the UK went up 0.4% month-on-month in February, the Office for National Statistics (ONS) said on Thursday.

The monthly gain was the outcome of a decline of 1.2% in sales of food stores being wiped out by growth in all other major retail segments. The quantity purchased in food stores saw the biggest drop since December 2016 at negative 1.5%.

In the three months ended last February, the UK’s retail sales edged up by 0.7% from the previous three-month period.

By 9:53 am GMT, the GBP/USD pair fell 0.18% to $1.3174, while the EUR/GBP rose 0.11% to GBP 0.8659.