UK Retail Sales Post First Drop in Three Months, ONS Says

UK retail sales declined for the first time since November, with consumers reining in their spending even before the Iran war clouded Britain’s economic outlook.

The total volume of goods sold online and in stores fell 0.4% in February, according to the Office for National Statistics, reversing some of the gains made the previous month when retail sales surged by a revised 2%. It was the first drop in three months but not as bad as the 0.7% decline expected by economists.