Source: Office for National Statistics
UK retail sales improved in November as shoppers went for early Christmas shopping and Black Friday. FTSE 100 up +0.25%, GBPUSD down -0.22%
- The Office for National Statistics stated that retail sales rose by 1.4% for the month, rising from a 0.8% increase in October.
- That figure was better than anticipated, with analysts having forecast that growth would remain unchanged at 0.8%.
- The ONS stated that sales volumes across the industry were now 7.2% higher than their pre-pandemic levels from February 2020.
- November was backed by non-food sales in stores that increased by 2% for the month. The increase was supported by a 2.9% growth in sales at clothing stores that saw sales top pre-pandemic levels.
- The latest data also signaled that motor fuel sales rose by 3.7% in November after disruption to supplies in the two previous months, but volumes are still 1.9% below pre-pandemic levels.
- Meanwhile, sales in food stores slid by 0.2% for the month.