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| UK retail sales in November jump more than expected | UK retail sales in November jump more than expected |
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| Retail sales jumped more than expected in November, helped by Black Friday promotions and stronger growth in sales of household goods. | Retail sales jumped more than expected in November, helped by Black Friday promotions and stronger growth in sales of household goods. |
| Figures from the Office for National Statistics (ONS) said sales rose 1.4% from October, despite economists' forecasts of about a 0.3% gain. | Figures from the Office for National Statistics (ONS) said sales rose 1.4% from October, despite economists' forecasts of about a 0.3% gain. |
| But for the quarter to November, which smoothes out monthly volatility, sales rose 0.4% on the previous three months. | But for the quarter to November, which smoothes out monthly volatility, sales rose 0.4% on the previous three months. |
| Several retailers have warned of tough trading this winter. | Several retailers have warned of tough trading this winter. |
| Sports Direct boss Mike Ashley said November was "unbelievably bad", while Superdry and online retailer Asos have also warned of dismal trading. | Sports Direct boss Mike Ashley said November was "unbelievably bad", while Superdry and online retailer Asos have also warned of dismal trading. |
| The ONS said the changing nature of Black Friday sales promotions posed a challenge for the process of adjusting for seasonal variations. | The ONS said the changing nature of Black Friday sales promotions posed a challenge for the process of adjusting for seasonal variations. |
| Household goods sales leapt by 5.3% on the month in November, the biggest increase since the end of 2013. Online sales as a proportion of all retailing exceeded 20% for the first time, the ONS said. | Household goods sales leapt by 5.3% on the month in November, the biggest increase since the end of 2013. Online sales as a proportion of all retailing exceeded 20% for the first time, the ONS said. |
| Surveys from the British Retail Consortium and Barclaycard have suggested that households were continuing to shop cautiously in November. | |
| However, recently consumers have seen the fastest growth in underlying pay growth since 2008, with inflation falling to a 20-month low of 2.3%, according to ONS figures released earlier this week. | |
| Thomas Pugh, UK Economist at Capital Economics, said the stronger spending could point to a weaker December, but that the longer term trend was more positive. | |
| He said: "With inflation continuing to fall back... and pay growth on the up, there should be scope for consumer spending growth to gather some momentum further ahead. [The] big picture is that a continued acceleration in real earnings, assuming a Brexit deal is signed, should give household spending a boost next year." | |
| Philipp Gutzwiller, head of retail at Lloyds Bank Commercial Banking, said November data showed that "online is now truly coming of age". | |
| He added: "More than perhaps any month before, the fact that overall sales rose in November was thanks to the relative success of Black Friday online compared with on the High Street." |