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Retail

UK Retail Sales Recover More Than Expected From Omicron Knock

British retail sales grew faster than expected in January, recovering about half the losses suffered when a wave of coronavirus cases caused many shoppers to stay at home during December.

Retail sales volumes rose by 1.9% in January after a 4.0% decline in December, the ONS said.  This is the largest rise since lockdown rules for non-essential stores in England were relaxed last April.

The monthly increase was larger than the average 1.0% gain forecast in a Reuters poll, although December's drop in sales was slightly bigger than first estimated.

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