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| UK retail sales fall unexpectedly in January | UK retail sales fall unexpectedly in January |
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| UK retail sales fell unexpectedly in January, confounding economists' expectations for a rise. | UK retail sales fell unexpectedly in January, confounding economists' expectations for a rise. |
| Volumes fell 0.6% from December 2012, hurt by heavy snowfall, href="http://www.ons.gov.uk/ons/dcp171778_300455.pdf" >the Office for National Statistics (ONS) said. | |
| Volumes also fell 0.6% from a year ago, the first annual fall in 17 months. | |
| The ONS highlighted weak sales in the food sector, which dropped 2.6% year-on-year to the lowest level since April 2004. It also said small stores had fared worse than large stores. | The ONS highlighted weak sales in the food sector, which dropped 2.6% year-on-year to the lowest level since April 2004. It also said small stores had fared worse than large stores. |
| Smaller retailers in the food sector suggested that the heavy snow seen in the second half of January had affected sales. | Smaller retailers in the food sector suggested that the heavy snow seen in the second half of January had affected sales. |
| In contrast, larger retailers suggested that some of the increase they saw came from a rise in online sales. | In contrast, larger retailers suggested that some of the increase they saw came from a rise in online sales. |
| In the food sector, the proportion of online sales rose 27% on the year. That meant that online sales now make up a record 3.7% of all food sales. | In the food sector, the proportion of online sales rose 27% on the year. That meant that online sales now make up a record 3.7% of all food sales. |
| The ONS data had an immediate impact on sterling, with the pound falling by more than a cent against the dollar to $1.5477. | The ONS data had an immediate impact on sterling, with the pound falling by more than a cent against the dollar to $1.5477. |
| By value, retail sales fell by 0.4% on the month and were unchanged on the year. |