LONDON BRIEFING: UK Retail Sales And Govt Debt Set Unwelcome Records
Fri, 22nd Jan 2021 08:09
(Alliance News) - UK retail sales rebounded in December after November s lockdown, figures from the Office for National Statistics showed on Friday, though still undershot market expectations.
Further, the ONS said 2020 overall saw the largest year-on-year fall in retail sales on record.
The latest bad news for the retail sector came after FTSE 100 fashion and homewares retailer Next decided against coming to the rescue of Philip Green s failed Arcadia retail empire.
UK retail sales increased 0.3% month-on-month in December - rebounding from a 4.1% slide in November - which resulted in an increase of 2.7% when compared with February s pre-pandemic level. Market consensus, according to FXStreet, had pencilled in a 1.2% increase.
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