- Hezbollah chief admits 'unprecedented' blow in device blasts
- Sales of US existing homes slip slightly in August
- Fear, panic haunt Lebanese after devices explode
- Labuschagne sparks Australia fightback in England ODI opener
- S.Africa's HIV research power couple says fight goes on
- Why is Israel focusing on border with Lebanon?
- Mpox vaccines administered in Rwanda, first in Africa
- US Fed rate cut is 'very positive sign' for economy: Yellen
- Unknown Mozart string trio discovered in Germany
- 'Are we five-year-olds?' F1 drivers won't mind their language
- Brazil judge orders X to reimpose block or face hefty fine
- Munich to rename stadium street after Beckenbauer
- Champions Italy to face Argentina in Davis Cup Final 8
- The winding, fitful path to weight loss drug Ozempic
- Italians defeat American Magic to reach Louis Vuitton Cup final
- Norris has 'nothing to lose' as he hunts Verstappen in Singapore
- Kyiv 'outraged' at Swiss showing of Russian war film
- French city renames Abbe Pierre square after abuse claims
- Footballer charged after huge cannabis seizure at UK airport
- Vatican recognises Medjugorje shrine, but not Virgin's messages
- Israel bombs Hezbollah strongholds in Lebanon after wave of deadly blasts
- Bank of England freezes rate after jumbo US cut
- Playing Nadal is 'kind of a nightmare', says Alcaraz
- Portugal tackles last of deadly northern forest fires
- Ton-up Ashwin lifts India to 339-6 against Bangladesh
- Departing NATO chief warns US against 'isolationism'
- Coming winter 'sternest test yet' for Ukraine energy grid
- Evacuations as tail of Storm Boris floods northeast Italy
- Lebanon's Hezbollah reeling after second wave of deadly blasts
- Taiwan recognises same-sex marriages between Chinese, Taiwanese
- Stock markets rally after jumbo US rate cut
- Gabon's ousted leader Bongo says renouncing politics for good
- Lebanon device blasts: what we know about deadly attacks
- Equity markets rally after jumbo US rate cut
- Late Harrods owner Al-Fayed accused of rape: BBC
- Hong Kong man sentenced 14 months for wearing 'seditious' T-shirt
- Lebanon's Hezbollah in disarray after second wave of deadly blasts
- Equity markets, yen rally after jumbo US rate cut
- Meta and Spotify blast EU decisions on AI
- Hasan takes three as Bangladesh rattle India in first Test
- Two killed during police operation in New Caledonia
- Flood-hit region leaders to meet in Poland to discuss EU aid
- Sri Lanka to vote in first poll since economic collapse
- Hong Kong probe finds Cathay Airbus defect could cause 'extensive' damage
- AI development cannot be left to market whim, UN experts warn
- All Blacks primed for 'hell' of a Wallabies clash
- Japan firm says no longer makes radio reportedly used in Lebanon blasts
- Zoom fatigue? Try some nature in your background: study
- Boeing to start large-scale furloughs with Seattle strike talks stalled
- Japan walkie-talkie maker says investigating after Lebanon blasts
CMSC | -0.18% | 25.01 | $ | |
BCC | 3.98% | 142.745 | $ | |
AZN | 0.58% | 79.035 | $ | |
SCS | -7.3% | 13.15 | $ | |
CMSD | 0.08% | 25 | $ | |
BP | 2.25% | 33.175 | $ | |
BTI | -0.53% | 37.68 | $ | |
NGG | -2.08% | 68.625 | $ | |
GSK | -1.05% | 41.99 | $ | |
RYCEF | 5.48% | 6.93 | $ | |
JRI | -0.45% | 13.38 | $ | |
BCE | -0.44% | 35.455 | $ | |
RBGPF | 5.79% | 60.5 | $ | |
VOD | -1.78% | 10.051 | $ | |
RIO | 3.84% | 65.425 | $ | |
RELX | 1.25% | 47.97 | $ |
UK retail sales suffer record drop on Omicron fears
British retail sales suffered a record drop in December as consumers shunned the high street due to Omicron concerns, having snapped up Christmas purchases the previous month, data showed Friday.
Total sales volumes dropped 3.7 percent last month from November, the Office for National Statistics (ONS) said in a statement.
That was the biggest December month-on-month drop since the data series began in 1996, the ONS said.
Sales had risen by one percent in November as some consumers bought early gifts for the festive season amid fears over supply-chain problems.
"After strong pre-Christmas trading in November, retail sales fell across the board in December with feedback from retailers suggesting Omicron impacted on footfall," noted Heather Bovill, ONS deputy director for surveys and economic indicators.
"As (Covid) restrictions in England meant more people working from home, there was a notable fall for fuel sales," she said, adding that one quarter of December sales were online.
The ONS added, however, that retail sales are currently 2.6 percent higher than their pre-pandemic level.
"December's retail story was exactly the tale stores didn't want told," said AJ Bell analyst Danni Hewson.
"As concern about Omicron knocked consumer confidence and left high streets eerily empty considering the time of year, the sound of tills ringing grew, if not silent, certainly quiet."
Consumer confidence was also hit in December as the Bank of England ramped up interest rates for the first time in three years to combat surging inflation.
Official data showed this week that Britain's inflation rate spiked to a decades-high 5.4 percent in December, stoking fears about a cost-of-living squeeze as wages fail to keep pace.
P.Anderson--BTB