Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
British retail sales rebounded less than expected in November, as strong supermarket sales were offset by a tough month for clothing stores in the run-up to the crucial Christmas shopping period.
The quantity of goods bought rose by 0.2 per cent between October and November, following a 0.7 contraction in the previous month, the Office for National Statistics said on Friday. Economists polled by Reuters had forecast a 0.5 per cent increase, although had cautioned that the figures would be affected by Black Friday falling in December this year.
Hannah Finselbach, ONS senior statistician, said: “For the first time in three months there was a boost for food store sales, particularly supermarkets. It was also a good month for household goods retailers, most notably furniture shops.”
She added: “Clothing store sales dipped sharply once again, as retailers reported tough trading conditions.
“With November’s retail sales survey covering the four weeks to 23 November, Black Friday itself will fall within December’s figures. However, our figures account for this shift in timing to give us the best picture of what is happening in the shops.”
This is a developing story
Read the full article here