Market comment

UK retail sales suffer sharp Christmas decline

DAVY VIEW

Poor UK retail sales in December, down across the board, meant that Q4 saw the sharpest decline in two years, leading investors to place a 70% probability of a rate cut at the Bank of England’s January policy meeting. However, a deep persistent slowdown in UK consumer spending in 2020 looks unlikely given reduced Brexit uncertainty and wages once again outstripping weak CPI inflation.

Download full report with analyst certification and important disclosures

Jan 20 2020, 07:10 GMT

Download