Retail sales in Britain fell at the fastest pace for more than a year in March, the latest official data shows today. On a monthly basis, retail sales shrank by 0.4% in March from February, the Office for National Statistics said.
That was the sharpest decline since January 2007 and compared with analysts' consensus forecasts for a drop of 0.3%.
But on a 12-month basis, retail sales grew by 4.6% in March, compared with the figure for the same month the previous year, the ONS added. That beat market expectations for a rise of 4.3%.
Analysts said that there are signs that the consumer's health is deteriorating in the face of mounting pressures, and they expect spending to be markedly weaker over the coming months.
Those pressures included rising domestic energy bills, higher food costs, muted income growth, a slowing property market and increased debt levels.
