📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

U.K. retail sales fell again in November

Published 2022-12-16, 03:00 a/m
© Reuters.

By Geoffrey Smith

Investing.com -- U.K. retail sales fell in real, seasonally-adjusted terms for the third time in four months in November, as promotions ahead of Black Friday failed to gain much traction with consumers hard-pressed by double-digit inflation.

The Office for National Statistics said that retail sales volumes fell 0.4% from October and were down 5.9% on the year, although it revised October's data higher to show a bigger rebound from September, when sales were depressed by official days of mourning for Queen Elizabeth II.

Excluding volatile auto and fuel, core sales volumes fell 0.3%. Analysts had expected both headline and core sales to grow by 0.3%.

Online retailers fared particularly badly, with sales falling 2.8%. However, they are still up over 18% from their level three years ago, just before the eruption of a pandemic which accelerated the long-term trend toward e-commerce.

Non-food stores posted a drop of 0.6% in sales on the month, while food stores fared better, rising 0.9%. The ONS said anecdotal evidence from retailers suggested that customers stocked up early for Christmas.

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.