What drove the increase in UK retail sales in January?

Retail sales volumes in Britain increased by 1.8% in January, largely driven by higher demand for sports supplements due to New Year's fitness resolutions and strong sales from online jewelers.

Are the January retail sales figures a sign of sustained economic growth?

Analysts caution that the January surge might be temporary, as sales were nearly flat in the three months prior, and a weak jobs market adds to consumer caution.

What is the outlook for consumer spending in the UK?

With weak employment growth and slowing wage growth, households may find it difficult to maintain the rate of spending seen in January.

Home / Business and Economy / January Retail Sales Surge on Fitness Goals

January Retail Sales Surge on Fitness Goals

20 Feb

•

Summary

Retail sales volumes in Britain increased by 1.8% in January.
Strong online jewelry sales and sports supplement demand drove the rise.
Analysts caution the uptick may be temporary due to slower longer-term growth.

January Retail Sales Surge on Fitness Goals

Retail sales volumes across Britain experienced a notable increase of 1.8% in January, marking the strongest monthly growth since May 2024. This uplift significantly exceeded economists' expectations of a 0.2% rise. A primary driver for this surge was the heightened demand for sports supplements, linked to consumers embracing New Year's fitness resolutions. Additionally, robust sales from online jewelers, bolstered by recent spikes in gold prices, contributed to the overall increase.

However, experts suggest this upward trend might not be sustained. Sales showed a near-flat performance over the three months leading up to January, with volumes growing by only 0.1% in that period. Lingering consumer caution, potentially exacerbated by a weak jobs market and slowing wage growth, indicates that households may struggle to maintain this spending pace. This suggests the January figures represent a temporary boost rather than a fundamental shift in consumer spending habits.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.

January Retail Sales Surge on Fitness Goals

20 Feb

•

Summary

Retail sales volumes in Britain increased by 1.8% in January.
Strong online jewelry sales and sports supplement demand drove the rise.
Analysts caution the uptick may be temporary due to slower longer-term growth.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.