British retail sales up 3.6% over year

London: Latest retail sales figures from Britain show a 3.6% year-on-year increase in the value of sales in December and a 2.1% annualised hike in volume terms, according to data from the UK Office of National Statistics (ONS).

“Although these figures came in lower than expectations, the general feeling is that 2009 ended on a relatively high note for retailers. Christmas trading proved positive as consumers upped their purchasing, releasing some of the pent-up demand in the market.

“The majority of trading updates at the end of 2009 were also positive, offering some cheer to the sector as the year ended,” commented Richard Lowe, head of retail and wholesale banking at Barclays.