UK Sales Look To Recover

14th December 2017.

UK retail sales rebounded strongly in November as shoppers proved they are not cowed by rising prices and struggling wage growth.

Sales figures climbed by 1.6 percent last month, defying the 3.1 percent rise in-store prices, according to a new report from the Office for National Statistics.

Andrew Sentance, the senior economic adviser at PwC, saw the strong sales figures as a sign that the country was finally recovering from Brexit.

Mr Sentance did note, however, that incomes are still strained by stalled wage growth and high inflation.

Consumers have grown more conscientious with their spending, with rising food prices leading many to start looking for the best deals.

Discount holidays such as Black Friday and Cyber Monday proved popular with consumers this year. Black Friday sales were particularly strong, despite the relatively poor turnout. Retailers had reported a particular uplift in sales of electrical household appliances.

Ruth Gregory at Capital Economics expects inflation to start to ease back and pay growth to recover a little in the new year, which could give retailers some extra support into 2018.

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