UK Retail Sector Faces Challenges in 2018
- Retail growth slowed down in 2018 according to ONS
- Growth rate decreased from 4.7% in 2016 to 2.7% in 2018
- Quantity bought declined across all sectors except fuel in December
- Retail spend increased by 3.7% compared to the same period in 2017
- Online retail accounted for 20% of total retailing with a 14% growth year-on-year
The Office for National Statistics (ONS) has reported a slowdown in retail growth for the year 2018, with an increase of 2.7% in the quantity bought, which is 2% less than the peak of 4.7% experienced in 2016. For the three months leading up to December 2018, estimates showed a decline in quantity bought across all main sectors except fuel, decreasing by 0.2%. Compared to the previous month, the quantity bought in December dropped by 0.9%, with only food stores and fuel stores experiencing growth on a monthly basis. Retail spending for the December period increased by 3.7% compared to the same time frame in 2017, while the most recent three months saw an increase of 4.1% compared to the same period in the previous year. Online retail accounted for 20% of total retailing and experienced a growth of 14% when compared to the same month a year prior.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the retail growth slowdown in 2018 according to ONS data, with clear comparisons to previous years and percentages. It also includes specific details on sector-wise changes and online retail growth.
Noise Level: 3
Noise Justification: The article provides relevant information about the slowdown in retail growth and specific details on the changes in different sectors, but it could benefit from more analysis or context to provide a better understanding of the implications of these trends.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses changes in retail growth and spending, which can impact companies within the retail industry and potentially affect financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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