December Chill In Sales To Shave 0.01pp Q4..>

UK DATA: December Chill In Sales To Shave 0.01pp From Q4 GDP  

-UK Dec Total Retail Sales -0.9% m/m; +3.0% y/y; -0.2% 3m/3m

-UK Dec Retail Sales Ex-Fuel -1.3% m/m; +2.6% y/y; -0.4% 3m/3m

-UK Dec Retail Sales Price Deflator +0.6% y/y; Ex-Fuel +0.4% y/y 

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Retail sales declined by 0.9% m/m in December, slightly worse than 

the MNI median of -0.8%. On a 3m/3m basis, growth fell by 0.2%, ending 

an 8-month stretch of growth. The slowdown confirmed very weak survey 

data as consumers continued to bring forward their Christmas shopping. 

The last four "Black-Friday" Novembers have been revised downward by an 

average of 0.8pp. However, this time November was revised down by 0.1pp. 

Food stores suffered in Q4, declining by 0.5% and dropped for the third 

consecutive 3m/3m reading. Petrol stations were the main winners as the 

recent drop in fuel prices led to growth of 2.1% in Q4.