City shocked by weak Christmas 小売 sales

By Gillian Bevis
Updated: 11:10 BST, 22 January 2010

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小売 sales over the Christmas period were much いっそう少なく than 推定する／予想するd, にもかかわらず a host of 肯定的な updates from major retailers, it was 明らかにする／漏らすd today.

Disappointing: 小売 sales in December were lower than 推定する／予想するd

Sales 容積／容量s grew by just 0.3% in December, 井戸／弁護士席 below the 1.1% growth 推定する／予想するd by City 分析家s. Year-on-year sales 容積／容量s were up 2.1% - the lowest 年次の growth for a December since 1998.

But 小売 sales values were up 3.6% year-on-year - the second highest for the month since 2001.

The Office of 国家の 統計（学） 人物／姿／数字s were met with 失望 from 経済学者s who had been 推定する／予想するing strong growth に引き続いて 上昇傾向 results from High Street heavyweights such as Morrisons, John 吊りくさび, Argos and Homebase owner Home 小売, and Tesco.
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James Knightley of ING 財政上の Markets said: 'The December UK 小売 sales 報告（する）／憶測 has 供給するd a major shock this morning by growing at a very modest 0.3% month-on-month 率 versus market 期待s of a 1.1% 伸び（る）.

'The re-introduction of the 17.5% 付加価値税 率 was 広範囲にわたって 推定する／予想するd to have 上げるd 需要・要求する for big ticket items ahead of time, but this does not seem to be borne out of the data. Prices rose at their fastest 率 since March, but even so this real sales growth 人物／姿／数字 is very disappointing.'

Knightley 追加するd today's poor results could 影響する／感情 next week's fourth ４半期/4分の1 GDP growth 人物／姿／数字. 'The market had been looking for a 0.4% ４半期/4分の1-on-４半期/4分の1 rise, but it could come in closer to 0.3%,' he said.

Many retailers were 軍隊d to 削減（する） prices before Christmas in 2008 to draw in 消費者s struggling in the 後退，不況, but there was いっそう少なく 証拠 of 割引ing this time around, with the worst of the 低迷 all but over.

Instead retailers put up their prices at their fastest 率 in nine months in December, by 1.2% c ompared with the same month a year ago, with the 女性 続けざまに猛撃する pulling up 輸入する prices.

The ONS said sales 容積／容量s at department 蓄える／店s fell 1% on the month, but 非，不，無-蓄える／店 sales, which 含む mail order, rose by 2.8% in December.

Many British retailers, such as supermarkets Tesco and Sainsbury's and 電気のs retailer Kesa （警官の）巡回区域，受持ち区域 their sales 予測（する）s over the Christmas 貿易（する）ing period, かもしれない helped by 消費者s bringing 今後 spending before the 逆転 of the 一時的な 削減（する） in value 追加するd 税金 at the end of December.

Today, John 吊りくさび 地位，任命するd a 株 rise in sales - rising 11.1% to £53.6m - in the week to 16 January, compared with the same week last year. Waitrose sales were up 16.6% in the same period.

The ONS today said the biggest 増加する in sales 容積／容量s in December （機の）カム の中で 着せる／賦与するing and footwear 蓄える／店s, up 4.7% year on year 予定 to Christmas shopping and the much colder 天候. 非，不，無-specialised retailers - such as department 蓄える／店s - 増加するd 容積／容量s by 1.5% while sales 容積／容量s in food 蓄える／店s were 2.8% ahead of a year earlier.

Vicky Redwood of 資本／首都 経済的なs said: 'December's modest rise in UK 小売 sales is disappointing given the far more 上昇傾向 トン of the 調査するs and 貿易（する）ing updates.

'In fact, the 0.3% 月毎の rise meant that sales in Q4 as a whole rose by いっそう少なく than in Q3 - 示すing that if the economy （機の）カム out of 後退，不況 at the end of last year, it wasn't 予定 to the 小売 部門.'

Redwood 追加するd that 消費者s can't be relied on to 運動 a strong 経済的な 回復.

? Read more: December 小売 sales: What the 経済学者s say