UK retail sales disappoint on expectations with another slump in November

UK retail sales have disappointed in November, with figures failing to meet expectations amid rising economic concerns. October saw a 0.9% decline in retail sales volume, now revised up from a prior 1.1% drop. For November, the year-on-year figures show a mere 0.6% increase compared to a forecasted 1.6%. Monthly estimates were missed, with a projected gain of 0.3%. Notably, food store sales declined by 0.5% and non-store retailing experienced a significant drop of 2.9%, with other non-food store sales down by 0.8%. On a brighter note, the textile clothing and footwear stores saw a 1.7% growth along with household goods sales rising by 1.8%, attributed to extended Black Friday discounting. It's important to note that the November 2024 retail sales did not account for Black Friday, which will impact December's results, implying diminished enthusiasm on a year-on-year basis. ONS highlights that when Black Friday occurs in November, it typically results in larger sales spikes for the month.