UK Retail Sales MM* (Jan) 3.4% vs. Exp. 1.5% (Prev. -3.2%, Rev. -3.3%)
Important
SourceNewsquawk
SectionUK Data
ONS
- "This was the largest monthly rise (sales volume) since April 2021 and returned volumes to November 2023 levels."
- "Sales volumes in all subsectors except clothing stores increased over the month, with food stores such as supermarkets contributing most to the increase."
- "Consumers spent more for less in January 2024, as the 3.9% monthly rise in sales values (the amount spent) exceeded the 3.4% rise in sales volumes."
- Food stores sales volume at 3.4% over the month, recovering from December's record -3.1% print; "Some of the fall in December was because of consumers purchasing Christmas gifts earlier, during the November Black Friday discounts. But 46% of surveyed adults still reported plans to spend less on Christmas shopping because of the rising cost of living..."
- Online sales fell for most subsectors, amount spent online -4.1% M/M but 1.0% Y/Y, increase most likely due to inflation.
via ONS