UK Retail Sales Miss Estimates With 8.2% MoM in January

The UK retail sales came in at -8.2% over the month in January vs. -2.5% expected and 0.3% last. The core retail sales, excluding the auto motor fuel sales, stood at -8.8% MoM vs. -2.6% expected and 0.4% last.

On an annualized basis, the UK retail sales dropped by 5.9% in January versus -1.3% expected and 2.9% prior while the core retail sales fell by 3.8% in the reported month versus 2.2% and 6.4% previous.