19.01.201804:56:00UTC+00UK Retail Sales Fall More Than Forecast

UK retail sales declined more than expected in December, data from the Office for National Statistics revealed Friday.

Retail sales volume dropped by more-than-expected 1.5 percent in December from November, when it grew 1 percent. Economists had forecast a 1 percent fall.

Similarly, sales excluding auto fuel decreased 1.6 percent, in contrast to November's 1.1 percent increase. Sales were expected to fall 1 percent.

The ONS said shopping for Christmas has shifted in recent years from being mainly in December to more in November as consumers seem to be starting their purchasing earlier in line with Black Friday promotions.

On a yearly basis, retail sales volume including auto fuel grew 1.4 percent after rising 1.5 percent in November. The expected growth rate was 2.6 percent.

Excluding auto fuel, retail sales growth eased to 1.3 percent from 1.5 percent. This was also weaker than the expected 2.6 percent.

For the whole of 2017, retail sales volume increased 1.9 percent, the lowest annual growth since 2013.