UK Retailers report weakest Christmas since 2007

January 22, 2010 Share Print 0

Retail sales rose by much less than expected in the festive season, marking the weakest November-to-December rise since 2007 and the lowest annual rise for the month since 1998.

Total retail sales volumes rose by just 0.3 per cent in December, compared with the previous month, according to The Office for National Statistics. Analysts had forecast a rise of almost three times as much.

Compared with the same month the previous year, volume was up 2.1 per cent in December, led by sales at food-based stores, which increased by 2.8 per cent. Sales at non-food stores rose by just 0.7 per cent.

source: Times Online

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.