UK retail sales rebound in January

16th February, 2019 09:21:54 printer

LONDON: British retail sales rose far more than expected in January, official data showed on Friday, as consumers appeared to shrug off Brexit uncertainty.

Total sales soared 1.0 percent compared to December, when they dropped 0.7 percent, the Office for National Statistics (ONS) revealed in a statement, reports AFP.

That outshone analysts' consensus forecast for an increase of 0.2 percent.

"January's jump in retail sales shows that most households have maintained a happy-go-lucky mentality, despite the fraught political situation," said Pantheon Macroeconomics analyst Samuel Tombs. "Right now, households' real incomes are being supported by low inflation, a decade-high rate of nominal wage growth and solid employment," he added.