United Kingdom Retail Sales ex-Fuel (MoM) came in at -0.9% below forecasts (-0.3%) in December

UK’s retail sales fell sharply in December, dropping 1 per cent month on month after increasing 1.7 per cent in November. It was expected to drop 0.3 per cent. Year on year, it increased only 2.6 per cent as against 5 per cent growth seen in November and below the expected increase of 4.3 per cent.