1/22, 8:01 AM (Source: TeleTrader)
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UK retail sales increase in December, miss estimates

Retail sales in the United Kingdom increased by 0.3% in December compared to the previous month, the Office for National Statistics said in its report published on Friday. With the yearly increase arriving at just 2.9%, both figures failed to meet analysts' estimates.

Clothing stores reported the largest monthly growth of 21.5% after making a rebound from coronavirus-related closures in November last year. On an annual basis, non-store retailers reported the largest growth at 43.5%. Clothing stores (-25.1%), fuel stores (-22.2%), "other stores" (-11.6%) and department stores (-5.2%) registered record annual declines in sales volumes in 2020 compared to the previous year. On the other hand, non-store retailing saw a record increase of 32% in the same period.

Total online retailing values increased by 46.1% in 2020 compared to 2019, marking the highest annual growth since 2008. Food stores (79.3%), "other stores" (73.9%), household goods stores (73.4%) and department stores (65.9%) achieved record annual gains in values of internet sales.

Breaking the News / ND