Why Uk retail sales fell in February?

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1. Guest9323
   

   The volume of UK retail sales fell by more than expected in February, dropping by 0.8% on the previous month. On an annual basis, the volume of sales was up 1.3% across the year. And it revised downwards the figure for January, with the volume of sales increasing by 1.5% rather than 1.9%.
   Analysts had expected a drop of 0.6% on the month and an annual rise of 2.3%.
   "These disappointing figures highlight the fragility of Britain's economy," said David Kern, chief economist of the British Chambers of Commerce.
   "With the government persevering with austerity measures, it is clear that businesses and consumers will face many pressures in the months ahead."
   It comes a day after Chancellor George Osborne said the 2011 forecast for UK gross domestic product growth would be 1.7%, down from a previous estimate of 2.1%.
   Increases in VAT, cotton prices and labour rates in many of the countries in which we source means the price of our products are rising ”

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