November's retail sales disappointed, with volumes flat on the month including automotive fuel and up a modest 0.1% excluding it. Year-on-year the figures were 0.9% and 2% respectively. Following a downbeat CBI survey on Wednesday, retailers need a late rush.
So does the economy. On both measures, retail sales volumes are down on their third quarter average, and threaten to be a drag on fourth quarter gross domestic product. It is instructive that retail sales have disappointed in October and November as higher inflation has squeezed real incomes. More here.