UK January retail sales +3.4% vs +1.5% m/m expected
Friday, 16 February 2024, 07:00
- Prior -3.2%; revised to -3.3%
- Retail sales +0.7% vs -1.4% y/y expected
- Prior -2.4%
- Retail sales (ex autos, fuel) +3.2% vs +1.7% m/m expected
- Prior -3.3%; revised to -3.5%
- Retail sales (ex autos, fuel) +0.7% vs -1.6% y/y expected
- Prior -2.1%
After a record fall in December, UK retail sales bounced back strongly to start the new year. The monthly reading is the largest since April 2021 and sees retail sales return back to levels seen in November last year. The breakdown shows that sales in all subsectors rose on the month, with the exception of clothing:
The pound has snapped higher with cable rising from 1.2583 to a high of 1.2605, though running into near-term resistance from its 200-hour moving average at 1.2601 currently.
This article was written by Justin Low at www.forexlive.com.This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.