Retail sales fall as Black Friday deals fail to lure shoppers

Official estimates show that retail sales dropped unexpectedly in November as Black Friday discounts did not increase spending. According to the Office of National Statistics (ONS), supermarket sales dropped for the fourth month in a row, while retail stores across November did not lift Black Friday spending as much as in recent years. Last month, the bank projected a 1% decline, against analysts' prediction of a 0. 4% increase. However, over the past months, sales have increased as a result of more computers, clothing, and furniture purchases. According to a separate survey published on Friday, consumers have been able to invest in the lead up to Christmas, with consumer confidence in December matched a 16-month high.

The GfK consumer confidence survey revealed that households were feeling better about their finances in the year ahead than ever before, but the tone remained subdued. The decrease in interest rates to 3. 0 percent was announced by Oliver Vernon-Harcourt, the head of retail at Deloitte. A 75% on Thursday may have boosted consumers' confidence and

retailers will hope this will lead to a rise in consumer demand

during the critical pre-Christmas trading period. According to the Bank of England, a survey of companies had indicated that people were keenly focused on value for money. Companies responding to its questionnaire regularly cited the Budget as the source of decreasing spending in recent months. According to AJ Bell, head of financial analysis,

unnerving customers at the peak of the holiday buying season were to blame for

unraveling shoppers. Despite Black Friday temptations, she said,

Shoppers were affected by all the rumors about potential tax hikes and continued to display an abundance of caution. Mark Neale, the managing director of outdoor retailer Mountain Warehouse, told the BBC's Today show that the Budget forecast had been

unhelpful to the company, despite the fact that the company had had a record sales period. According to the ONS' survey, 31% of adults said they intended to profit from Black Friday deals on offer, but 19% said they planned to buy less than last year.

Separately, the ONS reported on Friday that UK government borrowing was higher than anticipated last month. Borrowing was £11. In November, 7 billion people were born, while analysts had expected about £10 billion. However, the figure was £1. The lowest November borrowing for four years was 9bn lower than in the same month last year, and it was the lowest November borrower in four years. The decline, according to the Office of National Statistics (ONS), was mainly due to increased taxes and National Insurance contributiONS. The government's borrowing for the financial year to November has now hit £132. 3bn is a billion-dollar ahead of where it was at the same time last year. Parts of the government's decision to limit winter fuel payments, as well as paying higher salaries in the public sector and inflation-linked insurance.

Last month, Treasury Secretary James Murray said the Budget would

deliver on our pledge to reduce debt and borrowing.

One out of every £10 we invest goes on debt interest,he said,money that could otherwise be invested in public services. The government, on the other hand, was

piling up ever more debt. Labour is borrowing more to fund irresponsible spending after scrapping the two-child benefit cap and abandoning welfare reform,

Stride said. If the government is to meet the Office of Budget Responsibility's target of £138, Matt Swannell, chief economic advisor to the EY Item Club, said it would need to "deliver a significant decrease in borrowing over the next few months. 3bn for the current financial year.