Retail sales in UK did not meet expectations
2022.12.16 02:59
Retail sales in UK did not meet expectations
Budrigannews.com – November saw a decline in real, seasonally adjusted terms for the United Kingdom for the third time in four months. This was due to promotions leading up to Black Friday failing to gain much traction with consumers, who were already feeling the pinch of double-digit inflation.
Although the Office for National Statistics revised October’s data higher to show a larger rebound from September, when sales were depressed by official days of mourning for Queen Elizabeth II, retail sales volumes fell 0.4% from October and were down 5.9% on the month.
Volumes of sales decreased by 0.3%, excluding volatile auto and fuel markets. Experts had anticipated that both title and center deals should develop by 0.3%.
More UK property market going through hard times
Particularly badly, sales at online retailers decreased by 2.8%. They are still up over 18% from where they were three years ago, just before a pandemic broke out, which accelerated the long-term trend toward e-commerce.
Sales at food stores increased by 0.9%, while sales at non-food stores decreased by 0.6% for the month. According to the ONS, retail anecdotal evidence suggested that customers stocked up ahead of time for Christmas.
