- Chris Williamson, chief economist at Markit
Sales at British retailers rose more than expected in November amid promotion campaign in the run up to Black Friday. Sales volumes surged 1.7% from October, when they declined 0.5%, according to the Office for National Statistics. For the three months to November, sales soared 5.3% from the same period a year ago, the largest gain since March. Measured on an annual basis, retail sales increased 5.0%. Sales were boosted across the board as average store prices declined an annual 3.3%. The ONS said the amount spent by shoppers increased 1.4% in November compared with the month earlier, and was also up 1.4% from the same point a year ago. The value of online sales surged by 4.9% in November from October, and were 12.7% higher compared with last year. This is positive news for Britain, which is increasingly reliant on its consumers and its powerhouse services sector to boost economic growth, alleviating earlier concerns of a slowdown in activity.
Economic growth in the final quarter of the year will be starkly dependent on the strength of the Christmas season, analysts predict as sluggish trade and a beleaguered industrial sector continue to drag on activity.
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