{"id":2057,"date":"2024-12-20T08:40:51","date_gmt":"2024-12-20T08:40:51","guid":{"rendered":"https:\/\/otetmarkets.com\/blog\/?p=2057"},"modified":"2024-12-20T08:40:52","modified_gmt":"2024-12-20T08:40:52","slug":"uk-retail-sales-see-modest-uptick-in-november-2024","status":"publish","type":"post","link":"https:\/\/otetmarkets.com\/blog\/news\/uk-retail-sales-see-modest-uptick-in-november-2024\/","title":{"rendered":"UK Retail Sales See Modest Uptick in November 2024"},"content":{"rendered":"\n<p>Retail sales in the UK increased by 0.2% month-over-month in November 2024, recovering slightly from a 0.7% decline in October. However, the growth fell short of market expectations of 0.5%, reflecting ongoing economic challenges. The rise was driven by higher sales in food stores (0.5%), particularly supermarkets, and non-food stores (0.2%).<\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"481\" data-id=\"2058\" src=\"https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/photo_5992434725131765553_y-1024x481.jpg\" alt=\"\" class=\"wp-image-2058\" srcset=\"https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/photo_5992434725131765553_y-1024x481.jpg 1024w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/photo_5992434725131765553_y-300x141.jpg 300w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/photo_5992434725131765553_y-768x361.jpg 768w, https:\/\/otetmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/photo_5992434725131765553_y.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-clothing-retailers-hit-hard\"><strong>Clothing Retailers Hit Hard<\/strong><\/h2>\n\n\n\n<p>Despite the overall improvement, clothing retailers faced a steep decline of 2.6%, pushing sales volumes to their lowest level since January 2022. Retailers attributed this drop to economic pressures affecting consumer spending. This highlights the uneven recovery across sectors, with discretionary spending remaining under strain.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-black-friday-s-impact-yet-to-be-fully-seen\"><strong>Black Friday\u2019s Impact Yet to Be Fully Seen<\/strong><\/h3>\n\n\n\n<p>While Black Friday officially took place on November 29th, its impact was not included in the Office for National Statistics (ONS) reporting period for November. Many retailers, however, noted that sales events started earlier than the official date. The full effect of these promotional activities is expected to appear in the December report, offering a clearer picture of consumer spending trends.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-annual-growth-remains-subdued\"><strong>Annual Growth Remains Subdued<\/strong><\/h3>\n\n\n\n<p>Year-on-year, retail sales rose by 0.5%, a slowdown from the 2% growth recorded in October and below market forecasts of 0.8%. This tepid annual growth underscores the ongoing challenges in the retail sector as it grapples with inflationary pressures and cautious consumer behavior.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retail sales in the UK increased by 0.2% month-over-month in November 2024, recovering slightly from a 0.7% decline in October. However, the growth fell short of market expectations of 0.5%, reflecting ongoing economic challenges. The rise was driven by higher sales in food stores (0.5%), particularly supermarkets, and non-food stores (0.2%). Clothing Retailers Hit Hard [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,2],"tags":[37],"class_list":["post-2057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-economy-news","category-news","tag-financialnews"],"_links":{"self":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/2057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=2057"}],"version-history":[{"count":1,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/2057\/revisions"}],"predecessor-version":[{"id":2061,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/2057\/revisions\/2061"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media\/2059"}],"wp:attachment":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=2057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=2057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=2057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}