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Financial News: UK Retail Sales Fall Most Since May 2017

UK Retail Sales Fall Most Since May 2017

01/18/2019 - 06:24:00 (RTTNews)

(RTTNews) - UK retail sales decreased in December, marking the worst decline in over one-and-a-half years, after a surge in the previous month, figures from the Office for National Statistics showed on Friday.

The seasonally adjusted retail sales including auto fuel decreased 0.9 percent from November, when they grew 1.3 percent. Economists had expected a 0.8 percent decline.

On a year-on-year basis, retail sales rose 3 percent in December following a 3.4 percent increase in the previous month. Economists had expected a 3.8 percent growth.

Excluding auto fuel, the retail sales volume fell 1.3 percent monthly in December, which was the biggest drop since May 2017, when sales deceased 1.6 percent. In November, sales grew 1 percent. Economists were looking for a 0.8 percent decline.

Compared to the same month a year ago, retail sales rose 2.6 percent in December following a 3.5 percent increase in November. Economists had expected a 3.6 percent increase.

In the three months to December, total retail sales fell 0.2 percent from the three months to November, when they rose 0.2 percent. Excluding auto fuel, sales decreased 0.4 percent after a 0.3 percent gain in the quarter to November.

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