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UK Retail Sales Dip in November Amid Economic Uncertainty
UK Retail Sales Dip in November Amid Economic Uncertainty
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BTCCSquare news:
UK retail sales unexpectedly declined in November, underscoring growing consumer caution as economic headwinds intensify. The 0.1% month-on-month drop defied forecasts of a 0.3% gain, following October's steep 0.9% contraction. This marks the second consecutive monthly retreat as households prioritize financial resilience over discretionary spending.
The slump coincides with Chancellor Rachel Reeves' austerity budget, which introduced fresh tax hikes atop October's £40 billion fiscal package. Department store gains failed to offset plunging food sales, revealing a bifurcated consumption pattern. Savings rates remain elevated as Britons buffer against lingering pandemic scars and energy market volatility.
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