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| UK retail sales fall in January but outlook remains positive | |
| (about 4 hours later) | |
| Retail sales in the UK fell in January after the pre-Christmas surge in spending, figures have shown, but sales remained stronger than a year earlier. | Retail sales in the UK fell in January after the pre-Christmas surge in spending, figures have shown, but sales remained stronger than a year earlier. |
| Sales volumes fell by 1.5% last month, but this followed a strong increase in December when sales jumped by 2.5%. | Sales volumes fell by 1.5% last month, but this followed a strong increase in December when sales jumped by 2.5%. |
| However, sales in January remained 4.3% higher than a year earlier, the Office for National Statistics figures showed. | However, sales in January remained 4.3% higher than a year earlier, the Office for National Statistics figures showed. |
| Analysts said this showed the underlying picture remained positive for the sector. | Analysts said this showed the underlying picture remained positive for the sector. |
| "UK retail sales fell sharply in January, though the very strong figure in December always meant a drop was likely," said David Tinsley at BNP Paribas. | "UK retail sales fell sharply in January, though the very strong figure in December always meant a drop was likely," said David Tinsley at BNP Paribas. |
| "Despite the drop, there remains some solid momentum in retail sales," he added. | "Despite the drop, there remains some solid momentum in retail sales," he added. |
| "While some of the pace of growth has eased back in the sector, it looks likely to still make a significant contribution to GDP growth in Q1." | "While some of the pace of growth has eased back in the sector, it looks likely to still make a significant contribution to GDP growth in Q1." |
| The ONS said that sales over the past three months compared with the previous three months - seen as a better measure of the underlying trend - were up 1.1%. | The ONS said that sales over the past three months compared with the previous three months - seen as a better measure of the underlying trend - were up 1.1%. |
| 'Improving health' | 'Improving health' |
| The drop in sales during January from the month before was mainly due to weak trading at supermarkets and a fall in clothing sales. | The drop in sales during January from the month before was mainly due to weak trading at supermarkets and a fall in clothing sales. |
| However, the ONS said non-food stores had seen "notable" annual sales growth, up 8% from a year earlier. | However, the ONS said non-food stores had seen "notable" annual sales growth, up 8% from a year earlier. |
| Shops selling household goods recorded growth of 9.8% from a year earlier - the strongest rate since July 2007 - although the ONS said the figure may have been boosted by weak sales in January 2013 when heavy snowfall affected trading. | Shops selling household goods recorded growth of 9.8% from a year earlier - the strongest rate since July 2007 - although the ONS said the figure may have been boosted by weak sales in January 2013 when heavy snowfall affected trading. |
| Ian Geddes, UK head of retail at Deloitte, said: "In stark contrast to the flurry of January administrations seen in recent years, we saw no major retailers go under last month. This is a clear sign of the sector's improving health. | Ian Geddes, UK head of retail at Deloitte, said: "In stark contrast to the flurry of January administrations seen in recent years, we saw no major retailers go under last month. This is a clear sign of the sector's improving health. |
| "Despite the adverse weather that has affected the start of the year, retailers will be hoping that strong sales will continue into 2014." | "Despite the adverse weather that has affected the start of the year, retailers will be hoping that strong sales will continue into 2014." |