U.K retail sales in January 2021 fell by 8.2% from December on tighter nationwide coronavirus restrictions, according to the Office of National Statistics press release. The retail sales volumes were 5.5% below the pre-pandemic levels in February 2020.
- All sectors recorded a slump in sales volumes in January 2021 except for non-store retail and food stores which gained 3.7% and 1.4%, respectively, from December.
- Retail sales volumes in the three months to January 2021 declined by 4.9% compared with the previous three months, with strong falls in clothing stores and automotive fuel.
- Online spending soared to 35.2% in January 2021, the highest on record, up from 29.6% in December 2020 and 19.5% in January 2020.
- All store types had increases in online spending in January 2021, with food stores reaching a historic high of 12.2% of sales.
U.K stocks and the pound are currently gaining. FTSE 100 is up 0.20%, GBPUSD is up 0.22%
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