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Financial News: UK Retail Sales Rise Less Than Expected In

UK Retail Sales Rise Less Than Expected In January: CBI

01/25/2018 - 06:24:00 (RTTNews)

(RTTNews) - UK retail sales grew less than anticipated in January after Christmas sales, the Distributive Trades survey from the Confederation of British Industry showed Thursday.

The retail sales balance came in at 12 percent in January, undershooting expectations of 17 percent.

Although sales volume increased for the third consecutive month, sales for the time of year were the weakest against seasonal norms in over four years.

Looking ahead to the next month, retailers expect similar growth in sales volumes and for orders with suppliers to be flat. A balance of 13 percent expects sales volumes to increase in February.

"Retailers have seen fairly modest sales growth this month overall, but it is online retailers who have set the pace during the January sales," Anna Leach, CBI head of economic intelligence, said.

"Household spending will remain under pressure this year from higher inflation and low wage growth, which will continue to weigh on sales growth in the retail sector."

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