British shoppers reined in Christmas spending, official figures show

Spending fell 1.5% in December as consumers brought forward purchases to Black Friday

British consumers sharply reined in spending over the Christmas period, as Black Friday deals encouraged them to purchase presents earlier, rounding off the weakest year for retail sales since 2013.

According to the Office for National Statistics (ONS), spending fell back 1.5% in December after a strong November when the US-inspired discounting event appeared to boost sales. The drop was worse than expected among City economists and is likely to have dented profits for many British retailers over the key shopping month.

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Read the original at Economics | The Guardian.