UK Retail Sales Rebound on Automotive Fuel, Home Improvement Growth

Source: Office for National Statistics

The United Kingdom saw a rebound in retail sales volumes in January, driven mainly by the growth in non-food stores and automotive fuel sales. VGK was down 0.77% after-hours.

• Volumes for the month increased by 1.9% in January, following the 4.0% drop recorded in the previous month.
• Volumes were 3.6% higher than the levels recorded in February 2020, before the COVID-19 pandemic hit.
• Automotive fuel sales volumes inched up 4.1% as travel restrictions were eased. The latest reading is 3.3% below the February 2020 level.
• Non-food store sales volumed grew by 3.4%, driven by the expansion in home improvement sales along with household goods and garden centers.
• Food store sales volumes declined below pre-COVID-19 levels for the first time, reflecting a 0.8% decline from February 2020.
• Online retail sales accounted for 25.3% in January, the lowest level since March 2020. This is the 12th straight month that the proportion declined.