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Retail Sales (MoM) (UK)
Event Date: Friday, January 19, 2024
Event Time: 07:00 CET
Retail Sales to Turn Negative Again in Britain
Updated Wednesday, January 17, 2024
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Retail sales have been mostly negative in the UK this year. Although they increased by 1.3% in November, posting a 1.3% jump, beating expectations of 0.4%. However, that was mostly due to the Blck Friday and in December sales are expected to return to the negative trend, with the headline number expected to come at -0.5%. Please follow us for live coverage of this event by experienced analysts.
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About Retail Sales (MoM) (UK)
The UK retail sales report is the primary indicator of consumer spending. Consumer spending makes up the majority of the economic activity in the UK. This data is released on a monthly basis, 20 days after the month ends. The source of the report is the UK Office for National Statistics.
Retail sales data represents the total volume of sales, adjusted according to inflation. It is measured as a change in the percentage of sales compared to the previous month. A positive retail sales number shows that the UK economy is in a good shape. It means that business revenue and tax revenue will improve in the near term.
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Retail volumes increased by 0.9% in January 2020, recovering from the falls in the previous two months; the increase was mainly because of moderate growth in both food stores (1.7%) and non-food stores (1.3%).