LONDON: British retail sales rose by a stronger-than-expected 3.4% in January from December when they fell by 3.3%, data from the Office for National Statistics showed on Friday.
Economists polled by Reuters had forecast that sales volumes would increase by a median 1.5% on a monthly basis.
The monthly increase was the biggest since April 2021, the Office for National Statistics said.
“After a very weak December, retail sales rebounded in January with the largest monthly rise since April 2021,” Heather Bovill, deputy director for surveys and economic indicators at the ONS, said.
“This means that overall sales have now recovered to pre-December levels, although if we look at the broader picture, they are still below where they were pre-pandemic.”
Sterling was up against the dollar and euro after the data was published.
Compared with a year ago, sales volumes were 0.7% higher. – Reuters
