Investors will be analysing the most recent retail industry statistics, which revealed that UK footfall had a solid increase in 2022.

Investors will be analysing the most recent retail industry statistics, which were published earlier and revealed that, despite still below pre-pandemic levels, UK footfall had a solid increase in 2022.

Footfall decreased by 14.2% in 2022 compared to 2019 according to retail consultant Springboard. Within that, retail malls had an 18.8% loss and high streets had a 16.9% decline. In retail parks, traffic decreased by 3.7%.

Overall foot traffic increased by 42% over 2021, with increases of 51.2% on high streets, 52% in shopping centres, and 11.7% in retail parks. In contrast to 2022, the first year without restrictions since the pandemic began, the UK was under lockdown for the first four months of 2021, with all but necessary shopping shut.

Online shopping patterns also changed in 2022, according to Springboard. Compared to 20.5% in January 2020, 65% of clothing and footwear purchases were made online in February 2021. However, just 24.9% of purchases for clothing and shoes were made online by the end of 2022.

Foot traffic in 2022, according to Springboard, was consistent with its projections and demonstrated a "slow but steady" post-pandemic rebound for retail destinations.

Diane Wehrle, director of insights, predicted that the cost-of-living problem, which includes inflation, will last until 2023 and beyond.

In market news, low-cost carrier EasyJet said it will surpass full-year profit targets after narrowing first-quarter losses and seeing a sharp increase in summer reservations.

Pre-tax losses for the three months ending December 31 were reported by the airline as being £133 million, compared to a loss of £213 million when Covid travel restrictions were in place.

According to the company's trade statement, "although we continue to be conscious of the uncertain macroeconomic environment around the globe, easyJet anticipates outperforming the current market profit projections for 2023."

Finally, JD Wetherspoon announced on Wednesday an increase in first-half sales, but they are still below pre-pandemic levels.

In the 12 weeks leading up to 22 January 2023, sales during the crucial holiday season increased by 17.8%. In December 2021, a handful of pandemic limitations were still in effect.

Like-for-like sales decreased by 2.0% as compared to the 12 weeks ending on January 26, 2020.

Key developments today:

• German Ifo index is due at 09:00 GMT.
• Crude Oil Inventories due at 15:30 GMT.