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Retail sales unexpectedly rose in November, new figures on Friday showed, but estimates on growth in the UK in the third and second quarters were downgraded.
According to the Office for National Statistics, retail sales rose by 0.1% annually in November, following a 2.5% drop a month earlier.
The November read was better than feared, with markets expecting a 1.3% decline, according to FXStreet-cited consensus.
From November to October, retail sales jumped by 1.3%, after being unchanged month-on-month in October. October’s figure was revised from a 0.3% fall in October. Markets were expecting a 0.4% increase in November.
Excluding fuel, sales jumped 1.3% month-on-month in November, picking up from a 0.2% increase in October. Annually, non-fuel sales rose by 0.3% after falling by 2.1% a month earlier.
Also on Friday, the ONS reported second estimates for gross domestic product growth in the UK.
In the third quarter, the ONS estimates that registered a 0.1% fall quarter-on-quarter, having previously estimated that growth was stagnant. In the second quarter, the economy saw no growth from the first quarter, revised down from a 0.2% expansion.
On an annual basis, GDP grew 0.3% in the third quarter, coming in below previous forecasts of 0.6%.
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