United Kingdom Retail Sales Up 1.7% In November

0

Sales in the United Kingdom beat analyst forecasts of an increase of 0 .6%. Total sales rose faster than they have in over a decade, rising at a pace of 1.7% in November. In the month of October, sales volumes declined 0.5%.

Annually, sales increased 5% this year and have risen for 31 consecutive months.

Department stores had an increase in sales of 3.4% in the month of November. Household goods jumped 4.1% primarily due to Black Friday discount sales on November 27. The sales encouraged spending in the month of November, and has spread outside of the United States into the United Kingdom.

Online sales averaged £888.4m per week in the month of November. Cyber Monday sales were lackluster and accounted for about half the amount of sales experienced on Black Friday. Cyber Monday sales did not count for the month of November and are expected to give a boost to December’s sales.

The manufacturing sector struggled greatly in October to hit a three-month low, but the survey by the Confederation of British Industry (CBI) points to increased sales in the month of November. Despite the good news, the sterling gained value, which increased the expense of exports leaving the country. Analysts expect export numbers to be down in the month of November.

Jacob Maslow is a native New Yorker with  five children. He left his payroll manager position after finding that his true passion was in writing, and has never looked back.

Leave A Reply