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.
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.