BRC: Disappointing retail sales over Christmas
Published: 23 July, 2008
UK like-for-like retail sales increased only 0.3% in December - the worst figure since 2004.
Figures from the British Retail Consortium (BRC) showed December's growth to be the weakest since the decline felt in March 2006.
Kevin Hawkins, director general, BRC, said: "This result is somewhat worse than we expected and points to a very challenging first half for 2008.
"Given that the full effects of the bank's previous increases in interest rates have yet to be felt by many households, retailers and manufacturers alike need a rate cut now - preferably a full half-point."
However food and drink sales did increase, Helen Dickinson, head of retail at KPMG, said.
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