The Office for National Statistics released the UK December retail sales figures on Friday morning, which were well above analysts’ expectations. These were the strongest UK retail numbers since records began, with GBP bid against all of the majors.
UK Retail Sales Data (Dec): Ex Auto (M/M) +2.8% v. +0.3% exp. (prev. +0.2%) Ex Auto (Y/Y) +6.1% v. +3.2% exp. (prev. +2.1%)— Sigma Squawk (@SigmaSquawk) January 17, 2014
This adds pressure on retailers who had blamed difficult trading conditions in quarterly earnings updates such as Tesco and Debenhams.
The ONS figures highlighted the growth in non-store retailing (which includes internet sales) rose by a staggering 21.6% on the year. However some analysts have claimed that the figure is the first time it has been seasonally adjusted and therefore difficult to compare.Tweet