Christmas retail sales fall unexpectedly in December

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Sales by UK retailers has fallen at its quickest charge in almost three years in December as individuals did a few of their Christmas procuring sooner than ordinary.

The Office for National Statistics (ONS) mentioned that retail sales volumes have had the worst efficiency since January 2021, and are thought to have dropped 3.2% in December, down from an increase of 1.4% the month earlier than.

The figures have been seasonally adjusted, that means the precise figures have been more likely to be larger than reported in November, however the rise was lower than in previous years.

Heather Bovill, deputy director for surveys and financial indicators on the ONS, mentioned: “Following a strong November, retail sales plummeted in December with all types of outlets being hit.

“This was the largest overall monthly fall since January 2021, when the reintroduction of pandemic restrictions knocked sales heavily.

“Food stores performed very poorly, with their steepest fall since May 2021 as early Christmas shopping led to slow December sales.

“Department stores, clothing shops and household goods retailers reported sluggish sales too as consumers spent less on Christmas gifts, but had also purchased earlier during Black Friday promotions, to help spread the cost.

“The longer-term picture remains subdued, with quarterly sales dipping, while annual sales volumes fell for the second consecutive year, to their lowest level in five years.”