Economic Buzz: UK Retail Sales Rise 1.9% On Month In January

25 Feb 2022 , 04:07 PM

UK retail sales volume grew 1.9 percent month-on-month in January, the fastest growth since April 2021 and also bigger than the expected rate of 1.0 percent, the Office for National Statistics said on Friday. The monthly growth followed a revised 4 percent decline in December. Sales volumes were 3.6 percent above their pre-coronavirus February 2020 levels. Excluding auto fuel, retail sales volume increased 1.7 percent in January after easing 3.9 percent in the previous month. Sales were forecast to climb 1.2 percent. Non-food store sales gained 3.4 percent with strong growth in household goods stores, such as furniture stores and electrical goods stores and department stores. On a yearly basis, overall retail sales advanced 9.1 percent, reversing a 1.7 percent fall in December. Similarly, excluding auto, sales grew 7.2 percent after falling 3.8 percent in the prior month.

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