Retail sales in the UK sank 1% month-over-month in December of 2022, following an upwardly revised 0.5% drop in November and compared to market forecasts of a 0.5% rise. Sales at non-food stores fell 2.1% as consumers are cutting back on spending because of increased prices and affordability concerns. Sales were mostly down for cosmetics, sports equipment, games and toys and watches and jeweller and at department and clothing stores. Also, food sales edged 0.3% lower as customers stocked up early for Christmas. Compared with December 2021, sales declined by 5.8%, the most for that month since records began. Retail sales are now 1.7% below their pre-covid levels. Between 2021 and 2022, retail sales volumes fell by 3.0%, as rising prices and the cost of living affected sales volumes. source: Office for National Statistics
Retail Sales MoM in the United Kingdom averaged 0.19 percent from 1996 until 2022, reaching an all time high of 13.90 percent in June of 2020 and a record low of -17.90 percent in April of 2020. This page provides the latest reported value for - United Kingdom Retail Sales MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Retail Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.
Retail Sales MoM in the United Kingdom is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Retail Sales MoM is projected to trend around 0.40 percent in 2024 and 1.20 percent in 2025, according to our econometric models.