UK Retail sales: Retail sales have been falling all last year, amid rising inflation, but they rose in October 2022 and provided significant support for the index

FXMAG.COM: Are you of the opinion UK retail sales is going to provide support to FTSE?

Recently, markets were provided with a lot of crucial releases from the UK market. Last Friday, before the retail sales print, we reached out to Freedom Broker to ask their analyst, if this event can support FTSE.

FXMAG.COM: Are you of the opinion UK retail sales is going to provide support to FTSE?

Overall, positive retail sales data have the potential to boost consumer confidence and spending, given the slight slowdown in inflationary pressures in January, amid a CPI data release of 10.1%, down from December's 10.5%. Meanwhile, there was also a slowdown in Core CPIH, which fell to 5.3% in January 2023 from 5.8% in December 2022. Retail sales have been falling all last year, amid rising inflation, but they rose in October 2022 and provided significant support for the index, after which a local rising trend began with the index rising nearly 16%.

Maxim Manturov

Maxim Manturov began his career as investment analyst in 2017, conducting a credit analysis of global market companies and stock fluctuations assessment. He also participated in development of fixed income portfolio strategy which included more than 100 security names.

In 2020, Freedom Finance Analytical Center was awarded as Best Research Center by Global Banking & Finance Review. In the same year, Bloomberg ranked Freedom Finance's Beyond Meat and Zoom Video stock recommendations as "the best" for forecast accuracy.

Now Maxim continues to develop the Freedom24.com investment Ideas section as Head of Investment Advice. Out of duty, he is fond of cross fit and freeride snowboarding.