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.
Russia launched a large-scale aerial assault on Ukraine, marking the fourth major attack this month, with hundreds of drones and dozens of missiles st...
Hungary’s opposition leader Péter Magyar announced that his Tisza party will introduce a "Hungarian New Deal" to revitalise the country’s slowing...
According to a Wall Street Journal report on Saturday, SpaceX is investing $2 billion into xAI as part of a broader $5 billion equity funding round, s...
Iran has opened the first phase of its largest solar power plant as part of a major government programme to expand renewable energy capacity....
UK authorities have raised an amber heat health alert for much of southern England, warning that the ongoing heatwave could lead to a rise in deaths....
UK authorities have raised an amber heat health alert for much of southern England, warning that the ongoing heatwave could lead to a rise in deaths.
A group of high-profile British political figures and commentators has threatened legal action to block the return of the Elgin Marbles to Greece, accusing the British Museum of engaging in secretive negotiations with Athens.
Germany and the UK will sign a new 'friendship treaty' next week to deepen cooperation on foreign policy, security, and economic ties amid global challenges.
France and Britain have announced a new level of cooperation on their nuclear deterrents, signalling a united European response to growing regional threats and uncertainty over continued U.S. defence support.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
A group of high-profile British political figures and commentators has threatened legal action to block the return of the Elgin Marbles to Greece, accusing the British Museum of engaging in secretive negotiations with Athens.
The ancient city of Sardis and the Lydian Tumuli of Bin Tepe in western Türkiye have been inscribed on the UNESCO World Heritage List, Türkiye’s Minister of Culture and Tourism announced on Saturday.
U.S. singer Chris Brown pleaded not guilty in London to charges of assault and possessing an offensive weapon following a nightclub incident two years ago. His trial is scheduled for October 2026.
Oasis is officially back. The Britpop legends kick off their long-awaited reunion tour tonight (4 July) in Cardiff, marking their return to the stage after 16 years apart.
Apple’s Formula 1-themed drama F1: The Movie surged to the top of the U.S. and Canadian box office the weekend, collecting $55.6 million in ticket sales and marking the company’s most successful cinematic opening to date, according to data from Comscore.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment