December retail sales rise just 1.8 percent
According to the latest figures released, the retail sales growth slowed during the month of December in the UK even as customers picked up attractive deals this holiday season.
The British Retail Consortium said total sales increased just 1.8 percent during the month of December compared to the same month of the previous year. The growth rate of 1.8 percent is slower than 2.3 percent in November. The sales was just 0.4 percent higher during the month compared to the same month of 2012 and 0.6 percent higher than November on a like-for-like basis.
BRC director-general Helen Dickinson said, "While confidence levels were higher than the previous year, this wasn't always matched by more money in pockets."
Data showed that Food, clothing, electrical goods and health and beauty products were among the largest contributors to growth while footwear and products for the home recorded a fall in sales. UK's economy has recorded a strong recovery during the year but the retail sector has been recording slow revival as households face pressure to cut expenses. Experts have said that household spending is funded by savings as wages are growing slower than inflation.