High street gloom continues as fears grow over UK economy
by Richard Partington Economics correspondent from on (#4Y1SH)
Retail sales fail to rise for record fifth month in a row in December, says ONS
High street sales in Britain slumped in December as consumers reined in their spending over the key Christmas shopping period, adding to the gloom facing embattled retailers across the country and increasing the likelihood of an interest rate cut later this month.
The Office for National Statistics said retail sales failed to rise for a record fifth month in a row in December as household spending in high street shops and online plunged by 0.6% from the previous month.
Related: Philip Green's Arcadia closes more stores after tough Christmas
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