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Year-on-year growth slows

YEAR-on-year growth in UK retail sales value last month was the second-weakest for any January since comparable records began in 1995, an industry survey reveals today.

The British Retail Consortium survey shows the value of UK retail sales in January was up just 2.1% on the same month last year. This is a sharp slowdown from a year-on-year pace of increase of 4.1% in December which appears to be a blip in a generally weak run of sales figures.