Bad weather continued to weigh on UK retail sales for the third month in a row, with sales falling by 1.2% on monthly basis in March against expectations of 0.6%, according to the National Bureau of Statistics. Sales volumes in the first quarter fell by 0.5% compared to the fourth quarter of last year.
The drop in sales in March was largely due to a drop in fuel sales of 7.4 percent. Despite the heavy weather on sales, it has helped boost online spending through supermarkets.
Sterling hit its lowest level against the US dollar after the release of data to continue the series of losses suffered since the release of inflation data after the target of the highest level since the British referendum.
