Retail sales volumes rose by 0.5% in January after falling in run-up to Christmas, but people continued to cut back on food due to soaring prices
Bankers at NatWest will be able to splash out in the shops, after their employer ramped up its bonus pool after profits surged last year.
NatWest has increased banker bonuses after reporting its largest profit since before the 2008 financial crisis, as the lender benefited from a surge in loan and mortgage charges for its borrowers, my colleague Kalyeena Makortoff reports.
“NatWest Group delivered a strong performance in 2022.”
“Retail sales in the UK rose last month and were much stronger than expected, contrary to the inflation data earlier in the week. There is clearly still life in the consumer, despite ongoing pressures from impending increases in council tax, amongst other things.
Those thinking that the Bank of England might start moderating policy in the short term will be disappointed by this number. Although, overall, the economic data is ambiguous, making the short and medium-term outlook really very uncertain.”
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