UK Retail Sales Flat In November, Says ONS

UK retail sales failed to grow in November, adding to fears that consumers are reining in spending ahead of Christmas. UK retail sales volumes were flat in November compared with October, the Office for National Statistics (ONS) said. They had been expected to bounce back after October’s shock 0.8% fall. The one bright spot was in household goods stores, where sales rose by 3.8% on the month, including consumer electrical items. The pick-up in electrical sales may in part reflect a rush to buy discounted stock at the failed Comet chain, which closed its doors for the final time earlier this week. In contrast, sales of both food and clothing (including shoes) registered a 0.1% drop from the month before. Visa added to the bleak picture, announcing that the total value of sales using its payment system in the week to Sunday, 16 December – the penultimate week before Christmas – was down by 2.9% from a year ago. Read more on adeyemiadisa.com