OctaFX | OctaFX Forex Broker
Open trading account

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

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.

OPEC could deepend output cuts if oil prices, demand fall on spread of coronavirus – Reuters

If the spread of the coronavirus continues to weigh on crude oil prices and the oil demand in China, OPEC is likely to extend the current oil output c
Read more Previous

China's Xi to WHO Chief: China is confident and capable of winning battle against virus

China’s President Xi Jinping told the World Health Organization (WHO) Director-General that China is confident and capable of winning the battle again
Read more Next
Start livechat