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Retail Sales Fall in U.K., but Homes Get Pricier

U.K. retail sales weakened in January as the country was hit by heavy snowfall, but house prices rose despite the weather.

A survey by the British Retail Consortium and KPMG showed the value of retail sales in stores that had been open for at least a year was 0.7% weaker in January than a year earlier, a sharp turnaround from December's 4.2% gain. Total retail sales were 1.2% higher in January compared with a year earlier after rising 6% in December, marking the weakest growth for the month since the BRC launched the survey 15 years ago and raising questions about the strength of the economy over the rest of the year.

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