Retail sales volumes slip 0.4 mm in November
Data underlines tough times for UK consumers
Consumer confidence ticks up, but still near record low
LONDON, Dec 16 Reuters British retail sales slid unexpectedly in November, despite the soccer World Cup and the Black Friday sales promotions, a potential indication of the stress felt by many households as the costofliving crisis eats into their finances.
Retail sales volumes dropped by 0.4 in November after a 0.9 rise in October which had represented a bounce from September when sales were affected by a oneoff public holiday to mark the funeral of Queen Elizabeth.
A Reuters poll of economists had pointed to a 0.3 rise from October.
The fact that not even the World Cup and Black Friday Christmas shopping could produce an increase in sales will come as a major disappointment to retailers, especially considering the increase last month, said Lynda Petherick, retail lead at consultancy group Accenture in the UK and Ireland.
The Office for National Statistics ONS said some of the drop could reflect how the data did not include Cyber Monday online sales which fell on Nov. 28, which will be included in December39;s figures.
Still, Friday39;s figures were consistent with other signs that consumers are struggling. Retail sales volumes fell to 1.5 below their 2019 level.
Earlier, market research firm GfK said British consumer confidence crept up this month but was still close to alltime low levels.
The latest readings of…