Tuesday started off with retail sales release from BRC (British Retail Consortium). Even if figures did improve for December, the ‘golden quarter’ between October and December did produce dire numbers and almost a flatlining retail sector, with households prioritising their spending power on food and drink during the festive period.
Retailers who do rely on a bulk of annual profits coming from this period – are now facing difficulties after a poor performance and could be forced to cut thousands of jobs within the sector. It will be vital to follow the development within the retail sector – as inflation rates have started seeing signs of an upward trajectory – which would suggest that consumers will hold off spending further. It was not only the retail sector that faced challenges in December, UK did also see house prices decline in the month of 0.2%. This is the first decline in housing prices in the last nine months. The overall view for 2025 don’t look to promising either with a ‘modest’ growth on the housing market.
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