UK Retail Sales fell -0.7% in January after adding 1.1% in the previous month according to the British Retail Consortium. BRC Director General Stephen Robertson called the outcome “an awful start to the year,” adding that the outcome amounted to “the worst January sales growth in the 15 years we’ve been running the survey.” The coldest start to the year since 1987 was cited as the reason for poor performance, with heavy snowfall keeping consumers away from shopping for all but the bare necessities. Most worryingly, Stephenson said that “customers are becoming cautious again in the face of economic and political uncertainty,” a worrying sign for the prospects of sustainable recovery in Europe’s third-largest economy.
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