Eurozone retail sales on the rise

Eurozone retail figures show January up 1.2 per cent on the same month in 2012. Growth of only 0.3 per cent was expected.

This follows news that UK retail sales have risen more swiftly than at any time in the last three years. Our economics reporter, Ben Southwood:

In an unexpected fillip to the high street, total sales soared 4.4 per cent over the year to last month, according to data from the British Retail Consortium (BRC) and KPMG released this morning.

The figures are in stark contrast to last February’s 0.3 per cent decline, and show the fastest growth in 36 months. In like-for-like terms, sales were up 2.7 per cent, the fastest pace of expansion since December 2009.

(Full article)