UK retail sales drop 0.9% m/m in December, miss estimates
|- The UK retail sales dropped by -0.9% m/m in Dec.
- The core retail sales in the UK dropped by -1.3% m/m in Dec.
The UK retail sales contracted 0.9% over the month in December, missing market expectations by a small margin while core retail sales stripping the auto motor fuel sales also dropped 1.3% m/m.
On an annualized basis, the UK retail sales fell 3.0% in December versus 3.6% expected while the core retail sales also declined 2.6% in the reported month versus 3.5% previous and 3.9% expectations.
Main Points (via ONS):
“In the three months to December 2018, estimates in the quantity bought decreased by 0.2% with declines across all main sectors except fuel.
Looking at annual growth rates, the whole of 2018 increased by 2.7% in the quantity bought; an annual slowdown in comparison with the peak of 4.7% experienced in 2016.
In December 2018, online retailing accounted for 20% of total retailing, with an overall growth of 13.9% when compared with the same month a year earlier.”
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