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UK Retail Sales grew less than expected

Friday, Feb 16 2018
UK Retail Sales grew less than expected

In January 2018, the underlying pattern in retail sales, as suggested by the three-month on three-month measure, is one of slow growth with the quantity bought increasing by 0.1%; the lowest growth since April 2017. The monthly growth rate for the quantity bought increased by 0.1% with declines across all main sectors except non-food stores. When compared with January 2017, the quantity bought in January 2018 increased by 1.6%; a slowdown to year-on-year growth when compared with an increase of 2.4% in January 2017.

The main contribution to the year-on-year growth came from non-food stores, with sports equipment, games and toys increasing sales in the quantity bought in this sector by 10.9%. Feedback from retailers suggested that New Year’s resolutions to “get fit and lose weight” contributed to this increase of sales when compared with the previous year. The year-on-year growth rate for quantity bought in food stores showed a decline for the sixth consecutive month at negative 0.9%, due largely to a continued rise in food store prices.

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