United Kingdom retail sales fall in December

United Kingdom retail sales fall in December

Quarterly sales from a year earlier held at growth of just 1%, the worst readings since May 2013.

That marked the biggest month-on-month fall since June 2016, the month Britons voted to leave the European Union, as well as the weakest December performance for seven years.

Meanwhile, excluding fuel, retail sales fell 1.6 per cent between November and December, against expectations of a 0.8 per cent fall, and down from a 1.1 per cent rise the month before.

He further added: "Retail sales continued to grow in the last three months of the year partly due to Black Friday deals boosting spending".

The research reveals that shopping for Christmas has shifted in recent years, from being mainly in December to more in November, as consumers seem to be starting their purchasing earlier in line with Black Friday promotions.

December Retail sales in the United Kingdom have dropped by 1.5 percent from November highlighting low consumer spending due to rising prices, revealed the Office for National Statistics (ONS) on Friday.

According to data from the Office for National Statistics (ONS), total average weekly household spending recovered to pre-financial crisis levels for the first time in the 12 months to the end of March 2017.

President Trump to delay Mar-a-Lago trip until spending bill passes
The US government is already operating on its third temporary funding extension since this fiscal year began last October. The House passed a short-term spending bill Thursday night, but the bill lacks enough votes to pass in the Senate .

HSBC to pay $100m in currency rigging settlement
The London-listed bank said it would also take "additional steps" to bolster its compliance programme and internal controls. HSBC will pay $101.5m (£73m) to settle a USA investigation into currency rate-rigging, it announced this evening.

Goretzka signs a four-year contract with Bayern Munich
Coach Domenico Tedesco added: "We are sad and disappointed to lose Leon as a player and character, but we have to accept the decision".

In 1957, average weekly household expenditure on tobacco made up 6% of total spending - but by 2017 this was down to 1%, mirroring a decline in the popularity of smoking.

The ONS also stated that the trend towards online spending was continuing, with nearly one in five pounds now being spent online.

Rhian Murphy, a senior statistician at the ONS, said that the long-term picture for Britain's retail environment was one of "slowing growth, with increased prices squeezing people's spending".

The pound retreated slightly against the dollar, pulling back from its 18-month highs, and versus euro on the news.

But whatever distortions were caused by Black Friday sales, analysts were doubtful it did retailers any good.

Higher inflation, coupled with earnings failing to keep pace, has been a thorn in the side of the retail sector as the squeeze on shoppers' budgets has dented demand for non-essential goods.

Ruth Gregory at Capital Economics said that, given the volatility in the data around this time of year, it was hard to get a clear picture of underlying growth.

Related Articles

  • SoftBank's Uber investment deal closes

    SoftBank's Uber investment deal closes

    The investment deal clears the way for Uber, among the most valuable tech firms in the world, to sell stock to the public in 2019. On the other hand, the finalising of this massive deal will see Mr Kalanick's powers reduced.
    Indo-Israel friendship is a match made in heaven - Netanyahu

    Indo-Israel friendship is a match made in heaven - Netanyahu

    He signed off the memorable "Shalom Bollywood" event with a "Jai Hind, Jai Maharashtra, Jai Israel". In view of the Israeli PM's visit, the Taj Mahal remained closed for over two hours for tourists.
    No. 2 UVA at Georgia Tech

    No. 2 UVA at Georgia Tech

    After having four games of relatively clean play, Virginia's top-ranked defense suffocated the Jackets throughout the game. Single-game tickets are still available for the rest Tech's remaining home games, each game featuring a popular promotion.
  • NFC Title Game: Minnesota Vikings at Philadelphia Eagles

    NFC Title Game: Minnesota Vikings at Philadelphia Eagles

    This time it comes against the Minnesota Vikings in Sunday's NFC Championship Game with a trip to Super Bowl LII on the line . McAdoo has been fired already. "Everybody knows Pederson isn't a head coach", Lombardi said before this season started.

    Trump says Russian Federation undermining N.Korea sanctions

    Illinois Democrat Senator said, "The Russians are definitely providing supplies to the North Koreans and so are the Chinese". Asked whether he has had communications with Kim, besides the insults the two exchange through the media or Twitter, Mr.
    Disgraced Gym Doctor Rebuked After Begging Judge to Stop Witness Statements

    Disgraced Gym Doctor Rebuked After Begging Judge to Stop Witness Statements

    The now-22-year-old is one of at least 100 of Nassar's victims whose statements were read in court to the convicted child abuser. All three gymnasts, and several others , say former team doctor Larry Nassar sexually abused them at the training center .
  • OPEC Lifts 2018 Oil Demand Total to 98.51 Million Barrels a Day

    OPEC Lifts 2018 Oil Demand Total to 98.51 Million Barrels a Day

    But Rashidi believes that demand is still too high to suggest that more USA exports could hurt OPEC members' share of the market. However, rising oil prices may cast a shadow on some of these expectations, particularly on margins, according to analysts.
    Nasa tests nuclear power system to sustain astronauts on Mars

    Nasa tests nuclear power system to sustain astronauts on Mars

    Project lead Patrick McClure said the device creates new opportunities for astronauts working in extreme conditions. Of course, no habitat can sustain life without power, and a lack of fuel sources on Mars is a big roadblock.
    Definitive Edition releases on February 20th — Age of Empires

    Definitive Edition releases on February 20th — Age of Empires

    Age of Empires : Definitive Edition is a lovely looking remaster of the original Age of Empires . You can find more information on the beta and sign up for it at AgeOfEmpires.com.
  • Michael Douglas accuser speaks out

    Michael Douglas accuser speaks out

    A woman has come forward to accuse Michael Douglas of masturbating in front of her while she worked for him in the '80s. He said at the time: "This is a complete lie, fabrication, no truth to it whatsoever".
    National Football League  executive compares Baker Mayfield to future Hall of Famer

    National Football League executive compares Baker Mayfield to future Hall of Famer

    Stills, as you may know, is a fellow former Sooner and the Dolphins are possibly in the market for a quarterback this offseason. I think more than anything - a lot of quarterbacks are like this - he plays the game".
    What Are Analysts Suggestions On Fiat Chrysler Automobiles NV (FCAU)

    What Are Analysts Suggestions On Fiat Chrysler Automobiles NV (FCAU)

    Average Revenue Estimate of the company for the current Fiscal Quarter is $3.6 Billion, according to consensus of 12 analysts. TRADEMARK VIOLATION WARNING: This story was published by Dispatch Tribunal and is owned by of Dispatch Tribunal.