15 February 2001, 12:36 UK January retail sales-OVERVIEW and SNAPSHOTS reaction
--UK Jan retail sales volume up 0.7% on month; up 3.3% on yr
--UK Nov-Jan retail sales volume up 1.3% on qtr; up 4.1% on yr
--ONS: Marginal slowing in UK sales growth through H2 2000
--UK Dec retail sales monthly rate rev up, Nov rate rev down
--ONS says UK Jan sales growth lower than usual for January
--UK Jan retail sales deflator -0.3% on year vs Dec -0.6%
--UK Jan annual sales growth lowest since July 1999
--UK Jan mainly foodstore sales dn 0.5% on mo, up 1.1% on year
--UK Jan mainly non-foodstore sales up 1.0% on mo, +5.0% on year
--UK Jan clothing, footwear sales up 5.6% on mo, up 10.6% on yr
--UK Jan household goods sales down 2.5% on mo, up 2.2% on yr
By BridgeNews
London--Feb. 15--U.K. retail sales volumes rose 0.7% on the month and
3.3% on the year in January, according to figures published Thursday by
the Office for National Statistics. Growth was roughly in line with
expectations. The ONS also announced sizeable revisions to the previous
two months data, with December revised up sharply and November down by
almost the same amount.
Overall, the ONS said the latest data now suggested that there had been a
"marginal slowing down in the levels of growth experienced throughout the
latter half of 2000."
* * *
December sales growth was estimated at 0.5% on the month and 4.5% on
the year, compared with the previous estimate of 0.1% monthly growth and
4.4% annual growth. November, meanwhile, was estimated at 0.3% on the
month and 4.5% on the year from the earlier 0.6% on the month and 4.7% on
the year.
The ONS said that although monthly growth in January was the strongest
since September, it was in fact weaker than usual for a January. Monthly
growth in the same month last year was 1.9% and had been 0.9% in the same
month of the preceding two years.
The annual rate in the latest month of 3.3% was the lowest since July
1999, when it was 3.1%. The annual comparison, however, was distorted by
the unusually strong activity in the same month last year, when an extra
Millennium holiday provided even more opportunity for shoppers to enjoy
the seasonal sales.
The three-monthly rate of sales volume growth in January was 1.3% on
the previous 3 months and 4.1% on the year. The 3-monthly rate in December
was unrevised at 1.3% on the quarter and 4.4% on the year.
Food store sales, which make up just under half the total, fell 0.5%
on the month and rose only 1.1% on the year. Non-food store sales rose
1.0% on the month and 5.0% on the year.
Within the non-food sector, there was a big rise in clothing and
footwear sales of 5.6% on the month and 10.6% on the year. Household
goods, in contrast, fell 2.5% on the month and rose 2.2% on the year.
Although there was still measurable deflation on the high street in
the latest month it was the least pronounced since July 1999. The implied
retail sales deflator measured minus 0.3%, compared with minus 0.6% in
December.
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