Next week will see the release of BRC retail sales figures on Tuesday, providing the first concrete insight into how the economy fared over the crucial Christmas period.
The data, which is distinct from the Office for National Statistics' own measure, has been on a downward trend in recent months – most notably in November, when like-for-like sales fell by 3.4 per cent year on year, well below consensus expectations for a 0.6 per cent drop. That was partly due to the timing of Black Friday, which means December should see a strong bounce. Whether that speaks to improving consumer attitudes is another question: BRC footfall figures, out this week, suggest the holiday period was a relatively muted affair.