Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Posted By Global Banking and Finance Review

Posted on January 17, 2025

Featured image for article about Finance

By Andy Bruce and Suban Abdulla

LONDON (Reuters) -British retail sales fell unexpectedly in December, according to official data on Friday that added to a run of downbeat economic indicators that are likely to further boost expectations for a Bank of England interest rate cut next month.

Retail sales, adjusted for the inclusion of the Black Friday sales at the start of the month, fell by 0.3% in month-on-month terms in December after a downwardly revised 0.1% expansion in November, the Office for National Statistics said.

Economists polled by Reuters had forecast a monthly increase of 0.4% in sales volumes from November.

"This was driven by a very poor month for food sales, which sank to their lowest level since 2013, with supermarkets particularly affected," ONS senior statistician Hannah Finselbach said.

Sterling fell by around a quarter of a cent against the U.S. dollar after the data, tipping below $1.22.

Retail sales for the fourth quarter as a whole fell by 0.8%, something the ONS said was likely to drag on economic growth in the fourth quarter by around 0.04 percentage points.

(Reporting by Suban Abdulla and Andy Bruce; editing by William James)

Recommended for you

  • Thumbnail for recommended article

  • Thumbnail for recommended article

  • Thumbnail for recommended article

;