Worst December in 7 years as shops lose £75m a week
RETAILERS had the worst December in seven years in 2017, figures reveal.
The Office for National Statistics said shop sales were down 1.5% from November, or £75million a week.
Experts said one reason was shoppers snapping up bargains during November’s Black Friday.
Online shopping is also a factor and data showed sales soared to £1.65billion a week in December, up £400million on two years ago. Retail sales throughout the whole of 2017 grew by 1.9%, the weakest level since 2013. ONS statistician Rhian Murphy said: “[People] continue to move Christmas buys earlier with higher spending in November. The longer-term picture is slowing growth.” Chris Williamson, an economist at IHS Markit, added: “Rising prices and weak pay growth continue to erode spending power.”