U.K. retail sales declined unexpectedly in January, data from the Office for National Statistics showed Friday.
Retail sales including automotive fuel dropped 0.3 percent month-on-month in January, following a 2.1 percent fall in December. Sales were expected to grow 1 percent.
Excluding automotive fuel, the retail sales volume slid 0.2 percent, confounding expectations for an increase of 0.7 percent. Nonetheless, the pace of decline was slower than December’s 2.2 percent decrease.
Year-on-year, retail sales growth eased sharply to 1.5 percent from 4.1 percent a month ago. The annual growth was expected to slow moderately to 3.4 percent.
Excluding auto fuel, retail sales growth came in at 2.6 percent versus 4.7 percent in December and the expected rate of 3.9 percent.
The material has been provided by InstaForex Company – www.instaforex.com