FX.co ★ UK Retail Sales Fall More Than Forecast

UK retail sales declined more than expected at the end of the year, figures from the Office for National Statistics revealed Friday.

Retail sales declined 3.2 percent on month in December, reversing the 1.4 percent increase in November. The decline was also bigger than forecast of 0.5 percent drop.

Excluding auto fuel, the retail sales volume decreased 3.3 percent, in contrast to the 1.5 percent expansion a month ago. Sales were expected to fall moderately by 0.6 percent.

Non-food store sales volumes fell 3.9 percent and food store sales volumes were down 3.1 percent. And automotive fuel sales volumes decreased 1.9 percent.

On a yearly basis, overall retail sales declined 2.4 percent after a 0.2 percent gain. Likewise, sales excluding auto fuel dropped 2.1 percent following a 0.5 percent gain.

Sales volumes fell 2.8 percent in 2023 and were their lowest level since 2018, the ONS said.