• UK retail sales down 0.3% in January. GBP/USD dropped 50 pips instantly

Market news

17 February 2017

UK retail sales down 0.3% in January. GBP/USD dropped 50 pips instantly

In January 2017, the quantity bought in the retail industry is estimated to have increased by 1.5% compared with January 2016, the lowest growth since November 2013.

Month-on-month the quantity bought is estimated to have fallen by 0.3%.

The underlying pattern as suggested by the 3 month on 3 month movement decreased by 0.4%; the first fall since December 2013.

Average store prices (including fuel) increased by 1.9% on the year, the largest contribution to this increase came from petrol stations, where year-on-year average prices were estimated to have risen by 16.1%.

Online sales (excluding fuel) increased by 10.1% year-on-year, but fell on the month by 7.2%; accounting for approximately 14.6% of all retail spending.

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