UK December retail sales sees sharp contraction, falls 1 per cent MoM

FXStreet (Mumbai) - UK’s retail sales fell sharply in December, dropping 1 per cent month on month after increasing 1.7 per cent in November. It was expected to drop 0.3 per cent. Year on year, it increased only 2.6 per cent as against 5 per cent growth seen in November and below the expected increase of 4.3 per cent.

Average store prices (including petrol stations) fell by 3.2% in December 2015 compared with December 2014, the 18th consecutive month of year-on-year price falls. The amount spent in the retail industry decreased by 1.0% in December 2015 compared with December 2014 and decreased by 1.4% compared with November 2015. The value of online sales increased by 8.2% in December 2015, compared with December 2014 and decreased by 5.2% compared with November 2015.