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Financial News: UK Retail Sales Fall In November

UK Retail Sales Fall In November

12/18/2020 - 02:42:00 (RTTNews)

(RTTNews) - UK retail sales declined in November as many stores ceased trading following government guidance during the Covid-19 pandemic, the Office for National Statistics reported Friday.

The retail sales volume dropped 3.8 percent month-on-month in November, in contrast to the 1.3 percent rise logged a month ago. This was the first decline in seven months and was smaller than the economists' forecast of -4.2 percent.

Food store sales gained 3.1 percent, while non-food store sales decreased 8 percent from the previous month. Excluding auto fuel, the sales volume decreased 2.6 percent, reversing October's 1.4 percent increase. Sales were forecast to fall 3.3 percent.

On a yearly basis, growth in retail sales slowed to 2.4 percent from 5.8 percent in the previous month. Economists had forecast an annual growth of 2.8 percent.

Excluding auto fuel, retail sales advanced 5.6 percent after rising 7.8 percent a month ago. However, this was faster than the expected growth of 4.1 percent.

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