Monthly sales volume 0.5 in January vs Rtrs poll 0.3
December sales fall revised down to 1.2
ONS says trend remains negative for retailers
Consumers turning to discount stores as inflation bites
LONDON, Feb 17 Reuters British consumers unexpectedly increased their shopping in January, but the overall picture remains one of weak demand from inflationhit consumers who are relying more on discount retailers, official data showed on Friday.
Sales volumes rose by 0.5 from December for only second monthonmonth increase since August 2021. A Reuters poll of economists had pointed to a 0.3 fall in sales last month.
But sales volumes in the key Christmas month of December fell more deeply than previously reported, dropping by 1.2 from November, rather than the original estimate of a 1.0 decline.
After December39;s steep fall, retail sales picked up slightly in January, although the general trend remains one of decline, ONS Director of Economic Statistics Darren Morgan said in a statement.
Sales fell by 5.1 compared with January 2022 for their 10th consecutive yearonyear drop, the longest such run since the 200809 global financial crisis.
Volumes were 1.4 below their levels immediately before the coronavirus pandemic struck.
Britain39;s economy is widely expected to fall into a recession this year and the consumer confidence index published by polling firm GfK last month showed households close to their gloomiest since at least 1974.
Sterling fell slightly against the…