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UK consumers up spending at fastest pace in nearly 4 years at start of 2026
UK retail sales volumes rose 1.8% in January, led by 19.6% year-on-year online jewellery sales amid record gold prices and increased sport supplement purchases.
- The Office for National Statistics published January data showing retail volumes rose 1.8% month‑on‑month, the largest increase since May 2024.
- Strong category performance helped, with sales booming in auction houses for artwork and antiques and online jewellers, while analysts linked part of the jewellery boom to investors buying gold and silver.
- Breaking down the figures reveals overall volumes excluding petrol rose 2.0% in January from December, online sales and non‑food shops strengthened, and sales over the three months to January rose 0.1%.
- Markets responded quickly as sterling strengthened against the US dollar and the retail sector gained hope after major British retailers like Claire's, The Original Factory Shop, Quiz, and Russell & Bromley faced recent collapses.
- Looking ahead, Thomas Pugh said `It is also a good sign that the economy is bouncing back strongly at the start of this year after a soft end to 2025` while the Bank of England’s 2026 growth forecast was cut to 0.9%.
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Retail Sales Bounced Back In January
Official data from the Office for National Statistics (ONS) shows retail sales volumes rose by 1.8% in January 2026, the largest monthly rise since May 2024. The increase, which followed a rise of just 0.4% in December, far exceeded forecasts (more…) The post Retail Sales Bounced Back In January appeared first on KamCity.
The volume of retail sales rose sharply in January, at a rate well above expectations, particularly supported by jewellery, breaking with a difficult year-end due to concerns about the budget.
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Total News Sources21
Leaning Left3Leaning Right0Center2Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 40%
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