The monthly retail sales balance only saw a marginal improvement in December but continues to keep in negative territory. Similarly, the measure of expected retail sales for January remains negative at -11 but at least is an improvement to -29 in the month before. CBI notes that:

„Retailers have endured a gloomy festive period. Looking ahead, retailers expect sales to fall again in January while wholesalers and motor traders are braced for sharper sales declines.“

This article was written by Justin Low at www.forexlive.com.