There has been a surprise contraction in retail sales in December, despite the month being key for many retailers due to Christmas shopping, official figures show.
Retail sales fell 0.3% last month, according to the Office for National Statistics (ONS).
No drop at all was expected, not least a 0.3% drop. Sales growth of 0.4% had been forecast by economists.
The figures are of significance as they measure household consumption, the largest expenditure across the UK economy.
…
The December drop is due to a “very poor” month for food sales, which sank to the lowest level since 2013, hurting supermarkets in particular, the ONS said.
The data is in contrast to reports from supermarkets themselves, which reported stellar Christmas trading. It suggests that small shops suffered the brunt of the decline.
Surprise fall in retail sales in December, ONS figures show
Submitted 1 day ago by Emperor@feddit.uk to unitedkingdom@feddit.uk
https://news.sky.com/story/surprise-fall-in-retail-sales-in-december-ons-figures-show-13290514
Rumbelows@lemmy.world 10 hours ago
If everything is more expensive then we buy less shit. I mean…. Who expected anything different?