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- UK retail sales rose more than forecast in January
UK retail sales rose more than forecast in January
According to the report from Office for National Statistics, retail volumes increased by 0.9% in January 2020, recovering from the falls in the previous two months; the increase was mainly because of moderate growth in both food stores (1.7%) and non-food stores (1.3%). Economists had expected a 0.7% increase.
Fuel saw a large fall of 5.7% in the quantity bought in January 2020 when compared with December 2019, which coincides with a rise in fuel prices of 2.3 pence per litre between December and January (consumer price inflation, January 2020).
Online sales as a proportion of all retailing was 19.0% in January 2020, down from 19.3% in December 2019.
In the three months to January 2020, the quantity bought in the retail sales industry fell by 0.8% when compared with the previous three months, with declines across all sectors.
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