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The Office for National Statistics released its retail sales data for the U.K. on Friday. Retail sales in the U.K. dropped 1.0% in December, missing expectations for a 0.3% decline, after a 1.3% rise in November. November's figure was revised down from a 1.7% increase.
The decline was driven by lower demand for clothing due to warm weather. Sales of clothing and footwear slid 6.3% in December.
On a yearly basis, retail sales in the U.K. jumped 2.6% in December, missing forecasts of 4.3% increase, after a 4.5% rise in November. November's figure was revised down from a 5.0% gain.
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