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View all search resultsInflation-pinched British consumers cut their shopping by the most in the key month of December in at least 25 years, official data showed on Friday, dashing hopes for a Christmas boost for the country's flagging retail sector.
Consumer confidence has re-entered a downward trend after a brief rebound, while minuscule annual growth in retail sales does not bode well for household spending just weeks head of the year-end festive season.
Retail sales were expected to be under pressure in September, after a strong performance in the previous month, particularly due to sluggish automotive-parts and fuel sales, as inflation deepened its scourge on consumers' buying power.
China's factory output and retail sales beat expectations in August despite the economy being hammered by COVD-related curbs, heatwaves and a deepening property market slump, as the world's second-largest economy saw a bounce in business activity.
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