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UK retail slump in December hints at consumption slowdown in 2017

Saturday, January 21, 2017 - 05:50

Retail sales in the UK fell at the fastest pace in almost five years in December, recording a 1.9 per cent drop that far exceeded forecasts.


UK Chancellor of the Exchequer Philip Hammond told a Davos gathering on Friday that an inflation pick-up will put a damper on consumers this year. The first signs may already be appearing.

Less than an hour before Mr Hammond spoke, data showed retail sales fell at the

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