Black Friday helps retail sales jump more than expected in November

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UK shoppers opened their wallets for Black Friday last month as retail sales surged more than three times as much as expected, official figures show.

November sales, which included the imported discount bonanza but not Cyber Monday, showed sales volumes up 1.7% over the month.

Consumers enjoying the benefits of near-zero inflation splashed the cash across clothing and department stores and online, the Office for National Statistics figures show.

The data painted a much healthier picture than the British Retail Consortium’s recent survey, which experts said could give the wider economy a lift at the end of the year.

IHS Global Insight’s Howard Archer said: “We had pencilled in GDP growth of 0.6% quarter-on-quarter in the fourth quarter but the strength of retail sales in November suggests there is a chance it could come in higher.”

Black Friday was thought to have been a washout for retailers, with more people opting to bargain hunt online.

But on Wednesday Dixons Carphone hailed its version a success and John Lewis previously said the event gave it its best ever sales week.

Source Article from http://www.standard.co.uk/business/black-friday-helps-retail-sales-jump-more-than-expected-in-november-a3139491.html

December 17, 2015 |
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