UK Retail Sales Growth Accelerates In November

UK retail sales growth accelerated in November, data from the Office for National Statistics showed on Friday.

The retail sales volume grew 1.4 percent month-on-month in November, faster than the 1.1 percent increase seen in October and also economists’ forecast of +0.8 percent.

Meanwhile, the monthly growth in retail sales, excluding auto fuel, eased to 1.1 percent from 2 percent in October. Sales were forecast to climb 0.8 percent.

Food store sales fell 0.2 percent, while non-food stores sales volumes rose 2.0 percent, because of the 2.9 percent growth in clothing stores. Automotive fuel sales volumes gained 3.7 percent.

On a yearly basis, retail sales grew 4.7 percent, in contrast to the 1.5 percent fall in October. Economists had forecast an annual increase of 4.2 percent.

Excluding auto fuel, retail sales were up 2.7 percent, reversing a 2.1 percent drop in the prior month and also better than the economists’ forecast of +2.4 percent.

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