UK January CBI retailing reported sales -50 vs -32 prior
That's a big drop in the headline reading as UK retail sales fall at its fastest pace in 3 years this January. Adding to the worrying picture is that the volume of sales for this time of the year is seen at -47, the lowest reading since May 2020. CBI notes that:"Looking ahead, demand conditions will remain challenging as higher interest rates continue to feed through to mortgage payments and household incomes." This article was written by Justin Low at www.forexlive.com.
That's a big drop in the headline reading as UK retail sales fall at its fastest pace in 3 years this January. Adding to the worrying picture is that the volume of sales for this time of the year is seen at -47, the lowest reading since May 2020. CBI notes that:
"Looking ahead, demand conditions will remain challenging as higher interest rates continue to feed through to mortgage payments and household incomes." This article was written by Justin Low at www.forexlive.com.
