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Dismal retail sales in the UK over the Christmas period

GBPUSD News by Newsroom on 05:32 January 19, 2018 EST

British shop sales were way worse than expected in December. In fact it was the weakest year for retail since 2013 as consumers refuse to spend as a result of higher inflation and compressed earnings.

UK retail sales sink 1.5 percent in the holiday shopping month. Analysts where expecting a contraction of 0.8%. The figure for November was revised lower to 1.0%.

Britain's exporter-heavy FTSE 100 index was nudged to a session high by sterling's dip as weak retail sales for December added to evidence of a slower year for consumers. The index was little changed overall and was last trading back at its levels before the data.