Market News
UK retail sales shrink unexpectedly in December, adding to glum data - REUTERS
By Andy Bruce and Suban Abdulla
Summary
- UK retail sales fall 0.3% in December vs forecast 0.4% rise
- Data raises risk of economic contraction in Q4
- Sterling, gilt yields fall on Bank of England rate cut bets
LONDON, Jan 17 (Reuters) - British retail sales fell unexpectedly in December, according to data on Friday that raised the risk of an economic contraction in the fourth quarter, adding to the challenges facing finance minister Rachel Reeves.
Retail sales, adjusted for the inclusion of the Black Friday sales at the start of the month, fell by 0.3% month-on-month in December after a downwardly revised 0.1% expansion in November, the Office for National Statistics said.