UK retail sales unexpectedly fell 0.3% in December, following a revised 0.1% rise in November. The decline, driven by weak food sales, adds to concerns about the economy and raises expectations for a Bank of England interest rate cut next month.
UK retail sales unexpectedly declined in December, according to official figures released on Friday. This adds to a series of disappointing economic data, strengthening expectations that the Bank of England may lower interest rates next month.
Retail sales, adjusted for the impact of Black Friday, dropped by 0.3% month-on-month in December, following a revised 0.1% increase in November, the Office for National Statistics (ONS) reported. Economists had predicted a 0.4% rise in sales from November.
The drop was largely driven by weak food sales, which fell to their lowest level since 2013, with supermarkets hit particularly hard, said ONS senior statistician Hannah Finselbach.
In response to the data, the pound slipped around a quarter of a cent against the U.S. dollar, falling below $1.22.
For the fourth quarter as a whole, retail sales were down by 0.8%, which the ONS noted could reduce economic growth by approximately 0.04 percentage points.
British Prime Minister Keir Starmer and U.S. President Donald Trump held a brief call on Sunday to discuss progress on a new economic deal between the two countries, the prime minister's spokesperson said.
The British government announced on Saturday a £600 million investment aimed at addressing severe construction skills shortages that threaten its ambitious plan to build 1.5 million new homes by 2029 and drive economic growth.
The Office of Financial Sanctions Implementation (OFSI) has disclosed the full impact of UK sanctions on Russia, reporting that more than £25 billion in Russian assets have been frozen.
A new national forest stretching from the Cotswolds to the Mendips is set to be created, the UK government has announced. 20 million trees set to be planted across the West of England in the coming decades, creating at least 2,500 hectares of new woodland.
A massive fire at a west London substation has led to Heathrow Airport's closure for the day, with 70 firefighters tackling the blaze and evacuating 150 people. The fire, following a large explosion Thursday night, caused widespread power outages, including in nearby hotels.
A group of top Trump administration officials reportedly shared sensitive military plans over the encrypted messaging app Signal just hours before the United States launched strikes on Houthi targets in Yemen, sparking a political storm in Washington.
Bank of America (BofA) said the recent volatility in Turkish markets has so far had only a limited inflationary impact, stressing that Türkiye’s economic management remains in control.
A severe cyberattack disabled Ukraine’s online railway ticketing system on Monday, causing extensive queues and disruptions, with Kyiv officials attributing the incident to a possible Russian attempt to destabilise the nation.
Tuberculosis (TB) cases among children in Europe's WHO region increased by 10% in 2023, marking a troubling rise that underscores ongoing disease transmission, according to a World Health Organization report released on Monday.
U.S. President Donald Trump reiterated on Monday his proposal for the United States to annex Greenland, sparking strong criticism from Greenlandic and Danish officials over a planned visit by a high-level U.S. delegation later this week.
In a groundbreaking study published in Cell on January 18, Chinese researchers have unveiled a novel cancer treatment that ingeniously disguises tumors as pig tissue, triggering the body’s immune system to mount a hyperacute rejection response against the cancer cells.
Sweden’s Prime Minister Ulf Kristersson stated on Thursday that purchasing U.S. weapons does not pose a security risk for his country, but emphasized the need for Europe to reduce its reliance on American defense systems. His comments come amid growing discussions within Europe.
NASA astronauts Butch Wilmore and Suni Williams completed an unexpectedly long 286-day mission on the ISS, returning to Earth aboard a SpaceX capsule after delays caused by technical issues with Boeing’s Starliner.
Russian President Vladimir Putin agreed on Tuesday to a proposal by U.S. President Donald Trump that Russia and Ukraine cease attacking each other's energy infrastructure for 30 days, the Kremlin said following a lengthy phone discussion between the leaders.
Mexican forces have dismantled a massive meth lab in Zacatecas, dealing a blow to a Sinaloa Cartel faction.
French actor Gérard Depardieu is set to stand trial in Paris on March 24 and 25 on charges of sexual assault involving two women during the filming of Les volets verts (The Green Shutters) in 2021. He denied all allegations.
As winter turns to spring, millions worldwide celebrate Novruz— an ancient festival of renewal, unity, and cultural heritage. Recognized by UNESCO and the UN, it is officially marked as International Novruz Day on March 21, inspiring hope, peace, and togetherness across generations and borders.
Frederic Arnault, one of the five children of LVMH, opens new tab chairman and CEO Bernard Arnault, will become chief executive of the group's high-end Italian cashmere label Loro Piana in June, the world's biggest luxury group said in a statement.
Sean "Diddy" Combs is due to be arraigned in Manhattan federal court on Friday after a new indictment added allegations of forced labour in connection with his long-running sex trafficking scheme. Combs faces charges related to racketeering, sex trafficking, and the coercion of employees to work und
Donatella Versace is to step down as the main designer for the Versace brand after almost three decades, a move that has fanned talks of a sale of the business to rival Italian fashion house Prada.
A group of top Trump administration officials reportedly shared sensitive military plans over the encrypted messaging app Signal just hours before the United States launched strikes on Houthi targets in Yemen, sparking a political storm in Washington.
Bank of America (BofA) said the recent volatility in Turkish markets has so far had only a limited inflationary impact, stressing that Türkiye’s economic management remains in control.
A severe cyberattack disabled Ukraine’s online railway ticketing system on Monday, causing extensive queues and disruptions, with Kyiv officials attributing the incident to a possible Russian attempt to destabilise the nation.
Tuberculosis (TB) cases among children in Europe's WHO region increased by 10% in 2023, marking a troubling rise that underscores ongoing disease transmission, according to a World Health Organization report released on Monday.
U.S. President Donald Trump reiterated on Monday his proposal for the United States to annex Greenland, sparking strong criticism from Greenlandic and Danish officials over a planned visit by a high-level U.S. delegation later this week.
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