{"id":10311,"date":"2021-02-19T08:43:19","date_gmt":"2021-02-19T08:43:19","guid":{"rendered":"https:\/\/errante.com\/?p=10311"},"modified":"2021-02-19T08:43:19","modified_gmt":"2021-02-19T08:43:19","slug":"uk-retail-sales-drop-despite-online-surge","status":"publish","type":"post","link":"https:\/\/errante.com\/es\/newsroom\/uk-retail-sales-drop-despite-online-surge\/","title":{"rendered":"UK Retail Sales Drop Despite Online Surge"},"content":{"rendered":"\n<h2 class=\"tb-heading\" data-toolset-blocks-heading=\"3a94a5f5ac99f0c5642cb0af3ba9a028\" data-last-update=\"1.4\">UK\u00a0Retail\u00a0Sales\u00a0Drop\u00a0Despite\u00a0Online\u00a0Surge\u00a0<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.ons.gov.uk\/businessindustryandtrade\/retailindustry\/bulletins\/retailsales\/january2021#:~:text=In%20January%202021%2C%20retail%20sales,%2D19)%20restrictions%20affected%20sales.\" target=\"_blank\" rel=\"noreferrer noopener\">UK retail sales tumbled 8.2% in January<\/a>&nbsp;from December, according to the Office for National Statistics. The decline is far bigger than the 2.5% drop predicted by City economists. Sales were down 5.5% when compared with January 2020.&nbsp;<\/p>\n\n\n\n<p>All non-essential shops had to shut again in January after a new lockdown was declared to stop the spread of new Covid-19 variants. This obviously affected sales, but not to the same extent as the first coronavirus lockdown last spring, when sales slumped by 22.2% in April compared with the pre-pandemic level in February.&nbsp;<\/p>\n\n\n\n<p>Sales fell in all sectors except for non-store retailers and food stores, which reported growth of 3.7% and 1.4% respectively. Online spending surged to 35.2% in January, the highest on record and up from 29.6% in December. All store types reported higher online sales, with supermarkets and other food stores reaching a historic high of 12.2% of sales made online.\u00a0<\/p>\n\n\n\n<h2 class=\"tb-heading\" data-toolset-blocks-heading=\"3a94a5f5ac99f0c5642cb0af3ba9a028\" data-last-update=\"1.4\">Positive News for the GBP\u00a0<\/h2>\n\n\n\n<p>A quick vaccine rollout and a brighter outlook for the economy have boosted UK consumer confidence to the highest level in almost a year.&nbsp;<\/p>\n\n\n\n<p>The UK consumer confidence index, a measure of how people view the state of their personal finances and wider economic prospects, rose 5 points to an 11-month high of minus 23 in February, according to closely watched data published on Friday by research company GfK.&nbsp;<\/p>\n\n\n\n<p>The uptick, based on data collected in the first 12 days of February, was stronger than the consensus forecast of a small rise to minus 27 from a Reuters poll of economists.&nbsp;<\/p>\n\n\n\n<p>The improved sentiment has fuelled hopes of a strong rebound in consumer spending. Joe&nbsp;Staton, GfK\u2019s client strategy director, said that the jump in the headline confidence score, driven by a 14-point rise in the outlook for the economy over the coming year, made it \u201c<a href=\"https:\/\/www.marketwatch.com\/story\/uk-consumer-confidence-rises-2021-02-18?link=MW_latest_news\" target=\"_blank\" rel=\"noreferrer noopener\">tempting to talk of a return to normality<\/a>\u201d.&nbsp;<\/p>\n\n\n\n<p>He said the two-point rise in consumers\u2019 view of their personal financial situation was particularly encouraging, as this would feed through into spending and in turn \u201cfuel the post-pandemic economy\u201d. The rise in confidence was also underpinned by a five-point increase in consumers\u2019 view of whether it was a good time to make major purchases.&nbsp;<\/p>\n\n\n\n<p>The GBP is up&nbsp;at market open&nbsp;to&nbsp;<a href=\"https:\/\/finance.yahoo.com\/quote\/GBPUSD=X\/\" target=\"_blank\" rel=\"noreferrer noopener\">1.3984<\/a>&nbsp;against the USD.&nbsp;<\/p>\n\n\n\n<p>The UK banking sector will be in focus&nbsp;today&nbsp;as NatWest posts annual earnings, following results from Barclays on Thursday.&nbsp;<\/p>\n\n\n\n<p>Keep an eye on the\u00a0<strong>GBP crosses<\/strong>\u00a0for an opportunity to trade!\u00a0<\/p>\n\n\n\n<p>If you have any questions, please email our <a rel=\"noreferrer noopener\" href=\"mailto:educationcentre@errante.com\" target=\"_blank\">Education Centre<\/a>.<\/p>\n\n\n\n<p>If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email&nbsp;<a href=\"mailto:support@errante.com\">support@errante.com<\/a>.<\/p>\n\n\n\n<p>We are&nbsp;<strong>Errante. Trading made personal<\/strong>.<\/p>\n\n\n\n<p>Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [<a href=\"https:\/\/fsaseychelles.sc\/regulated-entities\/capital-markets\/\" target=\"_blank\" rel=\"noreferrer noopener\">SD038<\/a>].<\/p>\n\n\n\n<p>To find out more about Errante, visit&nbsp;<a href=\"https:\/\/errante.com\/es\/\">https:\/\/errante.com\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK retail sales tumbled 8.2% in January&nbsp;from December, according to the Office for National Statistics. The decline is far bigger than the 2.5% drop predicted by City economists. Sales were down 5.5% when compared with January 2020.&nbsp; All non-essential shops had to shut again in January after a new lockdown was declared to stop the [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":10328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[443,108],"tags":[110,6883,6884,6885,114,6886,1878,6887],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK Retail Sales Drop Despite Online Surge | Errante<\/title>\n<meta name=\"description\" content=\"UK retail sales drop despite online surge. The UK banking sector is in focus today. 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