Investing.com - Financial Markets Worldwide
🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

U.K. CBI realized sales drop from 34.0 to 14.0 in January

Published 01/23/2014, 06:07 AM
U.K. CBI realized sales fall more-than-expected in January
GBP/USD
-

Investing.com - U.K. retail sale volumes declined sharply in January, dampening optimism over the U.K.’s economic outlook, industry data showed on Thursday.

In a report, the Confederation of British Industry said the result of its index of U.K. retailers fell by 20.0 points to a reading of 14.0 this month from 34.0 in December. Analysts had expected the index to decline by 9.0 points to 25.0 in January.

On the index, a reading above 0.0 indicates higher sales volume, below indicates lower.

Grocers and furniture & carpets retailers saw sales volumes rise, whereas clothing retailers, which have been affected by unseasonably mild weather, have seen sales slump.

Retailers are expecting moderate sales growth again next month.

Barry Williams, Chair of the CBI Distributive Trades Survey Panel said, “At a time of year when shoppers are recovering from the excesses of Christmas and watching their spending carefully, it’s encouraging that high street sales have continued to grow.”

He added that, “While retailers predict some modest growth ahead, the prospect of continually slow pay growth is likely to mean cautious consumers for some time to come.”

Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD advancing 0.11% to trade at 1.6592.

Meanwhile, European stock markets remained mixed. London’s FTSE 100 inched down 0.1%, the EURO STOXX 50 rose 0.15%, France’s CAC 40 added 0.15%, while Germany's DAX shed 0.15%.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.