Free Trial

UK Jan Retail Sales Dropped Amid Third Lockdown

UK DATA
MNI (London)

UK JAN RETAIL SALES -8.2 % M/M; -5.9% Y/Y

UK JAN RETAIL SALES EX-FUEL -8.8% M/M; -3.8% Y/Y

UK DEC TOTAL SALES REVISED AT +0.4% M/M

UK JAN RETAIL SALES DEFLATOR -1.0% Y/Y; EX-FUEL -0.4% Y/Y

The national lockdown led to a sharp fall in UK retail sales which plunged by 8.2% in Jan. This month's decline was significantly stronger than expected (BBG: -3.0%), marking the sharpest decline since April. This is in line with MNI's Reality Check which suggested that Jan's decline was likely to be greater than expected as many firms adapted to the new circumstances. However, Jan's decrease was not as severe as in the first lockdown. While food sales rebounded and grew by 1.4%, non-food stores saw a sharp decline in sales with all categories registering monthly drops. Clothing and footwear recorded the largest drops in Jan, falling by 34.7% on the month. Online sales as a proportion of all retailing jumped to a record high level of 35.2% and accounted for over a third of total spending.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com

To read the full story

Close

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.