LONDON: British retail sales slid 1.5 percent in December from the previous month after consumers had brought forward their Christmas shopping, official data showed Friday.
Retail sales had jumped by 1.0 percent in November, boosted by Black Friday price reductions, the Office for National Statistics said.
Sales though climbed 1.4 percent in December compared with one year earlier, the ONS added.
“Retail sales continued to grow in the last three months of the year partly due to Black Friday deals boosting spending,” said ONS Senior Statistician Rhian Murphy.
“Consumers continue to move Christmas purchases earlier, with higher spending in November and lower spending in December than seen in previous years.”
Murphy added that “the longer-term picture is one of slowing growth, with increased prices squeezing people’s spending.”
Britons’ wages are being eroded by Brexit-fueled inflation, according to recent official data.
Since Britain voted to leave the EU in June 2016, a drop in sterling — making imported goods more expensive — has pushed inflation upwards.
“The latest retail sales data has shown a larger-than-expected drop in month-on-month terms with a decline of 1.5 percent,” said David Cheetham, chief market analyst at XTB trading group, adding that the pound dropped in response.
UK retail sales slide in December after Black Friday boost
UK retail sales slide in December after Black Friday boost
Closing Bell: Saudi main index closes in red at 10,414
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06.
Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining.
The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67.
The MSCI Tadawul Index edged down 0.45 percent to 1,368.36.
Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90.
Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42.
Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31.
AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29.
On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu.
In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026.
United Mining Industries Co.’s share price was unchanged, closing at SR42.54.
Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025.
According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings.
Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.
