UK Retail Sales Soar to Fastest Growth in 20 Months20 Feb 2026 07:40
"UK Retail Sales Soar to Fastest Growth in 20 Months"
https://www.bloomberg.com/news/articles/2026-02-20/uk-retail-sales-begin-2025-with-fastest-growth-in-20-months
"U.K. retail sales surged in January; growing 4.5% on monthly basis"
Investing.com - U.K. retail sales surged in January, eclipsing the previous month’s hefty jump, suggesting consumers retained a degree of confidence into the new year.
On a monthly basis, retail sales gained 1.8% last month, compared with December’s 0.4% jump, according to data released by the Office of National Statistics data earlier Friday.
Sales rose by 4.5% on an annual basis, having risen by 1.9% the prior month, revised down from the earlier announcement of 2.5% annual growth.
Economists had predicted that retail sales, which mostly reflect goods and are not adjusted for inflation, would rise 0.2% on the month, and by 2.8% on an annual basis.
The sharp increase in retail sales at the end of last year had been unexpected, and was driven by strong online performance, and followed the Autumn budget by Chancellor Rachel Reeves, ending uncertainty over the extent of tax rises needed to fund higher public spending.
The Bank of England maintained its benchmark interest rate at 3.75% earlier this month, but the tight 5-4 vote by the Monetary Policy Committee to do so, coupled with a cooling in inflation and subdued economic growth points to another interest rate cut in March.