According to the latest figures released, consumers increased spending by just 0.7 per cent during the month of February compared to the same month of the previous year.

The British Retail Consortium (BRC) said that the total amount of money spent in stores during the previous month was 0.7 percent higher than the February of the previous year. The total sales had increased 5.4 percent during the month of January, which was its highest increase in about three years.

Home accessories, furniture and flooring were the leading segments for growth in the retail industry during the month, mainly due to the recovery in the Britain's housing market. Data showed that the average sales in the three months to February were 2.8 percent higher than the same period of the previous month.

Consumer spending and housing have been boosting the rate of economic revival in the UK. However, the slower growth in the retail sector has shown the economy is still recovery and ti will take some time to reach the level of growth recorded before the recession in 2008.

However, the Office of National Statistics data showed that the retail sales had fallen during the month of February.