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December decline for flooring retail
January 20, 2023
December sales were disappointing for flooring retailers according to data from the Office for National Statistics after a strong performance the previous month.
In the latest data on retail sales, the ONS said December floorcovering sales were 3.2% down compared to the same month last year and a substantial 24% down on a busy November.
This contrasted with booming sales for the furntiture sector which were more than a third up for December compared to 2021 and 20% up on November.
Overall, the total UK sales retail sales data were down 1%.
"Today's retail sales release suggests that some of the resilience in the economy towards the end of last year appeared to peter out in December," said Olivia Cross, an economist at Capital Economics.
"What's more, we think the bulk of the drag on activity from high inflation and rising interest rates has yet to be felt and will weigh more heavily on retail spending and the overall economy in 2023."
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