Retail sales surge in January

Retail sales shot up in January at four times the rate predicted by analysts as consumers snapped up cheap electrical goods and stocked up for an early Easter, in a sign that consumer demand is holding up. The Office for National Statistics said...

Retail sales shot up in January at four times the rate predicted by analysts as consumers snapped up cheap electrical goods and stocked up for an early Easter, in a sign that consumer demand is holding up.

The Office for National Statistics said yesterday sales rose 0.8 per cent last month, recovering from a 0.2 per cent fall in December and putting them up 5.6 per cent on the year.

The rise was driven by a 0.7 per cent monthly jump in food stores sales, helped by Easter falling in March this year.

Household good stores sales leapt 4.3 per cent on the month and by 14.8 per cent on the year - the biggest annual rise since October 2001.

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