UK Retail Sales Unexpectedly Rise In February; Borrowing Hits 17-year Low

UK retail sales rose in February, defying expectations for a decline, despite a sharp decline in food sales, preliminary data from the Office for National Statistics showed on Thursday. Retail sales grew 0.4 percent month-on-month after a 0.9 percent rise in January. Sales rose for a second straight month. Economists had forecast a 0.4 percent decline.