Davy Morning Equity Briefing
Jan 21, 2022
UK retail sales drop by enormous 3.7% in December
This morning’s retail sales data for December show an enormous 3.7% decline on the month. Also, the GfK Consumer Confidence survey for January has fallen to its lowest level since February. The lifting of ‘plan B’ restrictions next week should help sentiment and sales. However, the GfK survey suggests UK households are now preparing themselves for both higher interest rates and energy prices pushing CPI inflation above 6%.