UK Gets Unexpected Boost From Black Friday Sales

British shoppers pounced on electrical goods and other Black Friday bargains last month, giving an unexpectedly big boost to retail sales, which contrasted with earlier signs of a subdued start to Christmas spending.Consumers have been squeezed through most of this year by rising inflation which hit its highest in nearly six years last month, at a time when wages are failing to keep up.But there was some unexpected cheer for retailers in November data from the Office for National Statistics, which showed sales volumes were 1.6 percent higher than a year ago, beating all forecasts in a Reuters poll of economists.

Source: UK retailers enjoy bumper Black Friday sales – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.