Two prominent indicators of the UK economy have shown growing confidence among consumers, in yet another sign of the country’s return to growth – and reliance on shopper confidence.

Retail sales grew faster than expected during February, at a rate not seen since June 2012, according to the CBI’s monthly Distributive Trades Survey.

The data from 120 big firms revealed sales growth for the ninth consecutive month.

Meanwhile, the British Bankers’ Association (BBA) said mortgage lending increased 38 per cent in January compared with a year before.

The number of mortgages approved but not yet completed was up 57 per cent in the same time-frame.

"Approvals for new purchases have climbed quite significantly and are now at their highest point since September 2007,” said David Dooks, BBA statistics director.

Responding to the CBI figures, Barry Williams, Asda chief merchandising officer for food, said: “The high streets have kicked on once again this month.

“Overall sales have been remarkably resilient in the face of disruption from the exceptional weather across the UK, which has badly affected many families and businesses.”