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- UK retail sales rose sharply in January
UK retail sales rose sharply in January
According to the report from Office for National Statistics, in the three months to January 2019, the quantity bought increased by 0.7% when compared with the previous three months.
The monthly growth rate in the quantity bought increased by 1.0% in January 2019, following a decline of 0.7% in December 2018. Economists had expected a 0.2% increase
Year-on-year growth in the quantity bought in January 2019 was 4.2% - the highest since December 2016 and more than the 3.4% rise economists had a forecast - while year-on-year average store prices slowed to 0.4%, the lowest price increase since November 2016.
The quantity bought in textile, clothing and footwear stores showed strong year-on-year growth at 5.5% as stores took advantage of the January sales, with a year-on-year price fall of 0.9%.
As food store prices experienced a general slowdown throughout 2018, the quantity bought in January 2019 returned to the strong growth experienced in the summer months at 3.2%. Online sales as a total of all retailing decreased to 18.8% in January 2019, from the 19.8% reported in December 2018.
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