Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

UK Retail Sales Fall 0.9% in December

Published 18/01/2019, 09:31
Updated 18/01/2019, 10:03
© Reuters.

© Reuters.

Investing.com - UK retail sales fell short of expectations in December, adding to evidence that uncertainty over the country's departure from the European Union is hurting consumer sentiment.

Retail sales fell 0.9% in December, and were up only 3.0% from a year earlier, the Office for National Statistics said on Friday.

Economists had forecast a 0.8% decline for the month and a 3.6% gain year-on-year.

The monthly increase in November was also revised down to 1.3% from an initial estimate of 1.4%, while the annual increase was revised down to 3.4% from an initial 3.6% advance.

“The three-month on three-month growth rate..shows that in recent months sales have slowed for both measures and flattened from September 2018 to December 2018,” ONS statistician Rhian Murphy said.

Howard Archer, chief economic advisor to consultancy EY's Item Club, said via Twitter that underlying sales growth was down 0.2% in the fourth quarter, and added that the December figure "Indicates many retailers aimed to boost sales by major discounting."

"Not good news for profit margins," Archer added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.