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UK retail sales unexpectedly declined in December
Office for National Statistics said, in the three months to December 2019, the quantity bought in retail sales decreased by 1.0% when compared with the previous three months. All sectors except household goods stores and fuel saw a decline in the quantity bought for the three-month on three-month movement; driven mainly by non-food stores at negative 1.0%.
The quantity bought in December 2019 fell by 0.6% when compared with the previous month; the fifth consecutive month of no growth. Economists had expected a 0.5% increase. The quantity bought in food stores fell by 1.3% for the monthly growth rate, which was the largest fall since December 2016, also at 1.3%. Online sales as a proportion of all retailing was 19.0% in December 2019, compared with the 18.6% reported in November 2019.
In annual terms, retail sales increased by 0.9% compared to a 0.8% increase in November. Economists had expected a 2.6% increase.
Comparing the three months to December 2019 against the same three months a year ago, growth in the quantity bought increased by 1.6% in December 2019, despite a strong decline of 2.2% for department stores.
After data release GBP/USD fell sharply, setting a new session low.
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