Summary
Retail sales in the UK increased by 1.8% in January, driven by a rise in demand for sports supplements related to New Year's resolutions. Sales also benefited from online jewelry purchases. However, experts warn this growth might not last due to a weak job market and slow wage growth.
Key Facts
- UK retail sales rose by 1.8% in January, according to the Office for National Statistics.
- The increase in sales was partly due to a higher demand for sports supplements.
- Online jewelry sales were boosted by recent increases in gold prices.
- January's sales growth was the strongest since May 2024.
- Online retail sales grew by 3.4% during the month.
- The job market remains weak, with unemployment at a near five-year high.
- Wage growth in the UK has slowed to 4.2%.
- Economists caution the sales increase might be temporary due to economic pressures.
