UK retail sales bounced back in February
The Trade groups of the country have anticipated that the retail sales of the UK have bounced back after a debacle in the month of January.
During the earlier part of the year UK has to deal with several issues like a huge snowfall as well as a massive hike in Value Added Tax etc. These have been the reasons of the retail sales downfall in January 2010. But February has ended up with a high and it has been a good indication of the recovery of the market.
According to the statistics provided by the British Retail Consortium (BRC), the sales across the country were up 2.2%. While in the previous month, it was a 0.7% fall in purchase. Some of the consumer goods like non-food sector, fashion, home wares have gained momentum in terms of sales where as some of the products like food sales are still lagging behind.
Director General of BRC has cautioned that the figures were impressive but still they are not so strong to rely on. The market need to behave accordingly.