Surprise fall in retail sales in crucial Christmas shopping month
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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. Low household consumption can mean economic growth is harder to achieve. The government has repeatedly said growth is its top priority.
Who did well and who didn't?. 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. Basic questions unanswered by Shein at Business and Trade Committee despite firm eyeing London listing.
Higher prices for 2025 as Christmas trading fails to meet expectations - BRC says. Almost 170,000 retail jobs lost in 2024 - and there could be even more next year. The data is in contrast to reports from supermarkets themselves, which reported stellar Christmas trading.It suggests that small shoppers bore the brunt of the decline.
Follow our channel and never miss an update. Clothes and household goods shops had a better month and reported strong Christmas trading, it added. These retailers rebounded from falls in recent months. The ONS also revised down November retail sales growth. Rather than growth of 0.2% in a time of Black Friday discounting, sales rose just 0.1%.
