FOREX TradingCharts.com

Financial News: UK Retail Sales Fall Unexpectedly

UK Retail Sales Fall Unexpectedly

12/19/2019 - 05:17:00 (RTTNews)

(RTTNews) - UK retail sales declined unexpectedly in November as consumers curbed spending ahead of general election.

Retail sales volume, including auto fuel, decreased 0.6 percent on a monthly basis, after remaining unchanged in October, the Office for National Statistics reported Thursday.

This was the biggest fall seen so far this year. Sales were expected to grow 0.2 percent.

Food store and non-food store sales fell 0.6 percent and 0.2 percent, respectively.

Excluding auto fuel, retail sales volume dropped 0.6 percent after a 0.1 percent decrease in October and confounding expectations for an increase of 0.3 percent.

The official Black Friday was on November 29 and outside the November reporting period.

On a yearly basis, retail sales logged its slowest growth since October 2017. Sales grew only 1 percent largely due to a 1.1 percent decrease in non-food stores in November. Economists had forecast sales growth to ease moderately to 2.1 percent from 3.1 percent in October.

Excluding auto fuel, retail sales growth slowed notably to 0.8 percent from 2.7 percent. This was also weaker than the expected 2 percent.

In three months to November, retail sales decreased 0.4 percent when compared with the previous three months. This was the first decline since April 2018.

Given the falls in October and November, it will be very difficult for retail sales volumes to grow at all in the fourth quarter as a whole, Thomas Pugh, an economist at Capital Economics, said. So not a very merry Christmas for retailers.

The Bank of England is set to announce its interest rate decision later today. The bank is expected to hold its rate at 0.75 percent and asset purchase plan at GBP 435 billion.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. New Home Sales Unexpectedly Edge Lower In December (49 min(s), 15 sec(s) ago)
(RTTNews) - New home sales unexpectedly showed a modest decrease in the month of December, accordi ...Full Story»

Bank Of England Set To Hold Rates On Improving Economic Activity (01 hr(s), 39 min(s), 15 sec(s) ago)
(RTTNews) - The Bank of England is likely to keep its monetary policy rates unchanged this week af ...Full Story»

Singapore Economy To Be Impacted By Wuhan Coronavirus Outbreak, Minister Says (02 hr(s), 28 min(s), 15 sec(s) ago)
(RTTNews) - The coronavirus outbreak in the Chinese city of Wuhan is set to impact the Singapore e ...Full Story»

German Business Confidence Weakens Unexpectedly (03 hr(s), 51 min(s), 15 sec(s) ago)
(RTTNews) - German business sentiment deteriorated unexpectedly at the start of the year, reflecti ...Full Story»

Poland Jobless Rate Rises Further (05 hr(s), 25 min(s), 15 sec(s) ago)
(RTTNews) - Poland's jobless rate rose for the second straight month in December, data from St ...Full Story»

German Jan Ifo Business Confidence Weakens In January (06 hr(s), 43 min(s), 15 sec(s) ago)
(RTTNews) - German business confidence weakened in January, reports said citing survey data from t ...Full Story»

Denmark Retail Sales Fall In December (07 hr(s), 53 min(s), 15 sec(s) ago)
(RTTNews) - Denmark's retail sales fell in December after rising in the preceding month, figur ...Full Story»

Turkey Manufacturing Capacity Utilization Falls In January (07 hr(s), 59 min(s), 15 sec(s) ago)
(RTTNews) - Turkey's manufacturing capacity utilization decreased in January, figures from the ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. New Home Sales Unexpectedly Edge Lower In December

01/27/2020 - 10:19 AM (RTTNews)
(RTTNews) - New home sales unexpectedly showed a modest decrease in the month of December, accordi ...Full Story>>

Bank Of England Set To Hold Rates On Improving Economic Activity

01/27/2020 - 09:29 AM (RTTNews)
(RTTNews) - The Bank of England is likely to keep its monetary policy rates unchanged this week af ...Full Story>>

Singapore Economy To Be Impacted By Wuhan Coronavirus Outbreak, Minister Says

01/27/2020 - 08:40 AM (RTTNews)
(RTTNews) - The coronavirus outbreak in the Chinese city of Wuhan is set to impact the Singapore e ...Full Story>>

German Business Confidence Weakens Unexpectedly

01/27/2020 - 07:17 AM (RTTNews)
(RTTNews) - German business sentiment deteriorated unexpectedly at the start of the year, reflecti ...Full Story>>

Poland Jobless Rate Rises Further

01/27/2020 - 05:43 AM (RTTNews)
(RTTNews) - Poland's jobless rate rose for the second straight month in December, data from St ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.