UK Retail Sales See Sharp Rebound in January, Raising Hopes of Shorter Recession
• UK economy entered a recession late last year but saw a surprise 3.4% boost in retail sales in January • Sales spike was the biggest increase in nearly 3 years, pointing to resilient consumer spending • Expert says sales rebound could shorten the recession, though some caution it reflects a bounce back after weak December • Inflation dropping and consumer confidence rising offer hope the economy may return to growth • Jobs market will likely continue cooling but improved consumer backdrop should help modest GDP growth in 2024