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Economy

Retail sales pick up in January

UK retail sales saw year-on-year growth of 2.2% in January following Decemberโ€™s report of the worst trading performance in a decade.

According to the British Retail Consortiumโ€™s (BRC) Retail Sales Monitor, like-for-like sales saw an increase of 1.8% compared with the same month last year. Food items did well with a three-month average year-on-year rise of 2.4% while non-food items sales dropped slightly by 0.4% when compared with the same period last year.

Overall, all categories saw a three-month year-on-year average uptick of 0.8%. Despite the improved performance, the BRC said it was โ€œlooking nervously to the futureโ€ as online sales continue to grow.

KPMG said fashion sales were boosted by colder weather and discounting, while an โ€œincreased focus indoorsโ€ contributed to furniture sales.

Helen Dickinson OBE, chief executive of BRC, said: โ€œThere was a welcome return to growth this month after Decemberโ€™s disappointing sales figures. But while retail discounts helped tempt cautious consumers, there is no guarantee this momentum will continue after the sales have finished.โ€

Paul Martin, UK head of retail, KPMG, added: โ€œFollowing the worst December trading performance in a decade, January brought a welcome improvement with total retail sales up 2.2%. Having said that, this increase points more to British shoppersโ€™ obsession of bagging a bargain and price inflation, rather than any real improvement, and these peaks and troughs continue to leave retailers feeling increasingly anxious.โ€

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