Reported about 16 hours ago
UK retail sales unexpectedly fell by 0.3% in December, following a revised 0.1% increase in November, raising concerns about the economic outlook. Analysts had forecasted a 0.4% increase, highlighting consumer caution amid high inflation and the cost-of-living crisis. This decline, particularly in food sales, marks the steepest quarterly drop since late 2023, as rising prices and payroll tax increases put pressure on spending. The pound weakened following the news, adding to worries about stagflation and its impact on future growth.
Source: YAHOO