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British retail sales dive twice as predicted in December
In December, retail sales in Great Britain went down much more than anticipated, affecting optimism over the UK economy, as official data revealed on Friday.
UK Office for National Statistics informed that in December retail sales slumped by 1.5% from November versus the previous 1% revenue that was updated from an initial 1.1% surge.
Financial experts had hoped December’s reading would go down by 0.6%.
In November, retail sales tacked on by 1.4% year-on-year, which is less than half the estimate for a 3% leap and compared to November’s 1.5% soar that turned to be a downward update from the initial 1.6% jump.
Core retail sales, excluding fuel and car sales, dived by 1.6% in December versus the previous 1.1% ascend that was updated down from an initial revenue of 1.2%.
Market experts had hoped core retail sales would inch down by 0.8%.
In December, core retail sales ascended 1.3% year-on-year, missing hopes for a 3% soar and compared to November’s 1.5% leap.
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