UK RETAIL SALES IMPROVE BUT COST PRESSURES RISE
UK RETAIL SALES IMPROVE BUT COST PRESSURES RISE
UK BRC January retail sales: +2.5% YoY (prior +3.1%).
Total sales up +2.6% YoY, partly due to weak year-ago data and Black Friday timing.
12-month average sales growth at 0.8%.
BRC chief says January was a solid month despite stormy weather impacting demand.
Retailers face £7 billion in extra costs due to rising social security, minimum wage, and packaging levy.
Barclays reports a 1.9% increase in consumer spending, despite low consumer confidence.
