Strong Black Friday sales helped tills ring in November – a crucial Christmas trading month that Sports Direct tycoon Mike Ashley had described as “the worst in living memory” for the high street.
The Office for National Statistics (ONS) reported sales volumes growing by 1.4% compared to the previous month and by 3.6% on an annual basis.
Economists had been expecting a month-on-month figure of around 0.3% – given some warnings in the retail sector that Black Friday promotions had largely left consumers – anxious about the outcome of Brexit – feeling cold.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.