UK retail sales jump by highest level since spring 2021

Up 3.4%

UK retail sales spiked 3.4% in January, the largest monthly rise since April 2021.

This followed a record fall the previous month of 3.3%, data from the Office of National Statistics found. According to the report, consumers "spent more for less" in January, as the 3.9% monthly rise in sales values - the amount spent - exceeded the 3.4% rise in sales volumes. UK enters technical recession as economy shrinks 0.3% in Q4 2023 The rise in January 2024 returned sales volumes to November 2023 levels following December's record fall, which was the largest monthly fall since January 2021, when Covid-19 restrictions affected sales. ING's developed markets economist Jam...