Jan Retail Sales Up - Supermarkets16 Feb 2024 08:19
7.20: Retail sales see largest monthly rise since April 2021
This is what Heather Bovill, deputy director for surveys and economic indicators at the ONS, said of today’s retail sales beat: “After a very weak December, retail sales rebounded in January with the largest monthly rise since April 2021.
“This means that overall sales have now recovered to pre-December levels, although if we look at the broader picture, they are still below where they were pre-pandemic.
“Sales increased across nearly all retail sectors, and it was a particularly strong month for supermarkets.
Household goods stores, sports shops and department store retailers were amongst those reporting robust trading due to January sales promotions. A fall in prices at the pump also meant a solid month for fuel sales.
“Clothing shops were the only area not to see growth this month.”
The good news propelled FTSE 100 futures higher, with the lead index expected to open 46 points higher at 7,645.
Source is proactive Investors.