Retail sales in the UK dropped 1.4% mom in March of 2022, following an upwardly revised 0.5% fall in February and much worse than market forecasts of a 0.3% decline, as affordability starts to weigh and consumers spend less due to rising prices. Biggest downward contribution came from non-store retailing (-7.9%). Sales of food went down -1.1%, amid higher spending in pubs and restaurants linked to reduced coronavirus restrictions, as well as the impact of rising food prices on the cost of living. Other decreases were also seen in sales of auto fuel (-3.8%), with some nonessential road travel being reduced following record high petrol and diesel prices. On the other hand, sales at non-food store sales rose by 1.3% because of growth in other non-food stores (2.9%), and household goods stores (2.6%) such as DIY stores. Compared to their pre-coronavirus (COVID-19) February 2020 levels, retail sales were 2.2% higher. source: Office for National Statistics
Retail Sales MoM in the United Kingdom averaged 0.21 percent from 1996 until 2022, reaching an all time high of 13.40 percent in June of 2020 and a record low of -17.90 percent in April of 2020. This page provides the latest reported value for - United Kingdom Retail Sales MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Retail Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
Retail Sales MoM in the United Kingdom is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Retail Sales MoM is projected to trend around 0.40 percent in 2023 and 0.50 percent in 2024, according to our econometric models.