Retailers brace for difficult 2022 after sharp monthly fall in UK spending
by Larry Elliott Economics editor from on (#5V8Z3)
Sales volumes dropped by 3.7% in December as Omicron resulted in a more cautious mood
Retailers are bracing themselves after a sharp fall in December spending was expected to be the prelude to a tough year ahead as consumers grapple with the impact of higher taxes and rising energy bills.
Hopes of bumper Christmas trading were dashed as the arrival of the Omicron variant prompted a more cautious mood among shoppers and led to a 3.7% monthly drop in retail sales.
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