howed on Friday.
Prime Minister Boris Johnson is due on Monday to announce the next steps in England’s lockdown but has said any easing of restrictions will be gradual.Retail sales volumes slumped by 8.2 percent from December, a much bigger fall than the 2.5 percent decrease forecast in a Reuters poll of economists, and the second-largest on record.
Though public sector borrowing of 8.8 billion pounds was the first January deficit in a decade, it was much less than the 24.5 billion pounds forecast in a Reuters poll. Sunak is expected to extend a costly wage subsidy program, at least for the hardest-hit sectors, but he said the time for a reckoning would come.
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