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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
UK Total Retail Sales growth slowed to +1.2% Y/Y in January (vs +1.7% Y/Y prior) - the lowest since August 2022, similarly Like-For-Like Sales rose less at +1.4% Y/Y (vs +1.9% Y.Y prior).
- Total Retail Sales is now below the 3-month average growth of +1.9% as well as below the 12-month average growth of +3.4%. Although this is partly due to falling inflation.
- The main driver for the slowdown in sales growth was an increased rate of decline in Non-Food Sales to -1.8% 3M Y/Y (vs -1.5% 3M Y/Y prior) - which was below both the 12-month average decline of -0.5%.
- Food Sales rate of growth also contributed to the slowdown, although it remained in growth Y/Y in January, as the rate of increase declined to +6.3% 3M Y/Y (vs +6.8% 3M Y/Y prior).
- ONS Retail Sales (ex-fuel) rose +2.3% Y/Y in value-terms in December. The ONS series continues to run above the BRC retail sales, but the trend is indicating that in value terms the ONS series is unlikely to see a significant rise in January.
- Data covers 31 December 2023 - 27 January 2024.
Source: MNI,ONS,BRC-KPMG
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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