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U.K. Retail Sales Unexpectedly Drop as Snow Deters Shoppers

From bloomberg.com

U.K. retail sales unexpectedly fell in January for a second consecutive month as snowfall kept consumers at home, hurting spending on food, household goods and auto fuel. Sales including fuel fell 0.6 percent from December, when they dropped a revised 0.3 percent, the Office for National Statistics said today in London. The median forecast of 24 economists in a Bloomberg News survey was for a 0.5 percent increase. From a year earlier, sales declined 0.6 percent. Bank of England Governor Mervyn King said this week that inflation may accelerate in the coming months, intensifying a squeeze on consumers that has curbed ... (full story)

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