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U.K. Retail Sales Growth Accelerates In December

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

U.K. high street sales growth accelerated in December but the pace of expansion is expected to slow somewhat next month, the latest monthly Distributive Trades Survey from the Confederation of British Industry showed Monday.

The retail sales balance rose to 19 percent from 7 percent in November. Nonetheless, it was below the expected level of 31 percent.

Only a balance of 9 percent expect sales volume to improve in January, the lowest since May 2012.

Following Black Friday, internet sales volumes rose at their quickest pace since April, with the pace of growth expected to hold broadly steady in January.

"It's no surprise sales have recovered as we head into the final shopping days of the Christmas season," CBI Distributive Trades Chairman Barry Williams, said.

The fundamentals for consumers should still be pretty decent in 2016, although there is currently appreciable uncertainty over how earnings growth will develop, IHS Global Insight's Chief European Economist Howard Archer, said.

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