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Black Friday bonanza boosted British economy

msSales in the UK on Black Friday had a “significant impact”, particularly for department stores, according to the ONS.

Retail sales soared to their strongest annual pace in more than a decade. Volumes rose by 1.6% in November compared with October while economists had predicted only 0.4%.

Compared to last year growth was more than 6%.

For the first time in a year, growth was recorded in all main types of stores, including food, clothing, household goods and even fuel.

"Feedback from retailers this period suggests that in-store promotions, price matching and ‘Black Friday’ had a significant impact on sales," the ONS said on Thursday.

It reported that online sales were also high in November. Average weekly spending online was £753.4m, an annual increase of just under 13%.

At the same time, prices dropped 2% on average during November compared to last year. This was the largest fall since August 2002 when prices also fell by 2%.

The ONS said the surge in sales was partly due to Black Friday falling in the December reporting period last year but in the November period this year.

This means that this year’s figures for December could be below forecasts, although economists believe that low inflation and better wages could continue to encourage consumer spending.

It appears that the introduction of this American sales jamboree is just one of the changes taking place in British shopping habits.

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