UK Retail Sales Rise More Than Expected

UK retail sales recovered at a faster than expected pace in January, the Office for National Statistics said on Friday.

Retail sales volume grew 1.9 percent month-on-month, in contrast to the revised 4 percent decline in December. This was also faster than the expected growth of 1.0 percent.

Excluding auto fuel, retail sales volume increased 1.7 percent after easing 3.9 percent in the previous month. Sales were forecast to climb 1.2 percent.

Non-food store sales gained 3.4 percent with strong growth in household goods stores, while food store sales dropped 2.3 percent from the prior month.

On a yearly basis, overall retail sales advanced 9.1 percent, reversing a 1.7 percent fall in December. Similarly, excluding auto, sales grew 7.2 percent after falling 3.8 percent in the prior month.

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