Did UK retail sales plunge during January amid lockdowns?

British Retail sales had dropped in January 2021 as non-essential shops remain closed during the period. The retail sales volume went down by 8.2% month-on-month basis during January 2021 as compared to an increase of 0.4% shown during December 2020.

However, the lower-than-expected public borrowings must have provided some relief to finance minister Rishi Sunak as he will announce the 2021 budget on 03 March 2021.