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Bloomberg
UK retail sales rose less than expected in December, adding to evidence that a succession of Covid-19 lockdowns is dragging down the economy.
Sales in shops and online increased 0.3% after declining in November, the Office for National Statistics (ONS) said. That’s a percentage point
less than economists had expected. From a year earlier, sales rose 2.9%.
The report casts doubt about the resilience of the economy during a third round of restrictions that started this month. While the virus may be distorting the seasonal adjustment of the figures, December and the holiday shopping season are nevertheless crucial for retailers.
Clothing sales rose sharply in December, while supermarkets and department stores declined. The drop in retail sales will knock 0.02 percentage point off overall output in the fourth quarter, the ONS said.