UK Retail Sales Rebound Sharply in January

The UK retail sales came in at 1.9% over the month in January vs. 1.0% expected and -4.0% prior. The core retail sales, excluding the auto motor fuel sales, stood at 1.7% MoM vs. 1.2% expected and -3.9% previous. On an annualized basis, the UK retail sales jumped by 9.1% in January versus 8.7% expected and -1.7% prior while the core retail sales rose by 7.2% in the reported month versus 7.9% expectations and -3.8% previous.