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Retail sales drop -but still better than 2018

20poundnotesThe value of retail sales dropped in December, but was still ahead of 2018.

The value of seasonally adjusted retail sales excluding fuel dropped by 0.8% compareedwith November, according to the Office for National Statistics. However, compared with December 2018 it was up 1.1%.

Sales for the quarter were down 1.1% compared with the previous quarter.

‘Looking at the three-month on three-month growth rate, the quantity bought in retail sales has not experienced growth for three consecutive months. The three months to October 2019 remained flat, while the three months to November and December fell by 0.5% and 1.0% respectively. The last time we saw three months of no growth in the three-month on three-month movement was from February to April 2018. During this period, March and April 2018 fell to negative 0.4% and 0.2% respectively from a flat February 2018,’ says ONS.

‘The summer months from June to September 2018 saw strong growths, attributed to warmer than usual weather and the football World Cup, increasing to 2.5% in July 2018 before reducing to 0.4% in October 2018. After a brief period of recovery from January to May 2019, a general downward trend followed from June 2019.’