UK: Retail sales volumes stay flat for third straight month in January

Eren Sengezer FXStreet

Retail sales volumes in the UK stayed unchanged for the third straight month in January, the latest CBI Distributive Trends Survey showed on Tuesday.

"Retail sales volumes posted no growth in the year to January (0%, unchanged from December)," the CBI noted in its press release. "Retailers expect sales volumes to remain unchanged in the year to February (0%)."

Commenting on the data, "2020 looks set to be another tough year for the sector as growth in households’ disposable income is set to remain modest and retailers continue to battle longer-term issues such as digital disruption and the cumulative burden of policy costs," noted Anna Leach, CBI Deputy Chief Economist.

Market reaction

The GBP/USD pair edged lower on the disappointing data and was last seen trading at 1.3008, erasing 0.35% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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