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Retail sales flat in November
Retail sales were flat in November, falling below analyst expectations and a fresh sign that the economy as a whole has stalled in the final quarter.
According to official data from the Office for National Statistics out this morning, retail sales were weaker than expected in November and grew only 0.9 per cent annually.
The figures, which follow a shock fall in retail sales in October, increase the chance that Britain’s economy will contract in the last three months of 2012, something the Bank of England has said is likely.
Internet sales increased in November, up 1.4 per cent month on month and up 0.5 per cent on an annual basis.