Economic news

UK retail sales rise more than expected in November

In November, retail sales in the UK rose by 1.1% compared to the previous month, the Office for National Statistics reported. The year-on-year growth rate came in at 1.6%.

Analysts had forecast November’s figures to increase by just 0.4%. Retail sales account for about 6% of UK GDP.

ONS said growth to remain pretty solid and businesses had said that Black Friday promotions supported sales.

UK inflation accelerated to 3.1% in November.

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