Since retail sales data began being recorded in Britain in 1996, the UK experienced its largest annual decline in 2020.
British retailers faced difficulties recovering in December from the partial lockdown measures in the previous month, marking a weak end to their worst year ever, while public borrowing rose to its highest level since 1962. The British Office for National Statistics reported that retail sales volumes increased by 0.3% in December, showing a rise of only 2.9% compared to the previous year. Following retail data that came in weaker than expected, the pound fell slightly against the dollar and the euro. The economy seems to be moving in a negative direction due to pressure from new measures to combat COVID-19, indicating that the figures are a bad omen for the UK's economy in 2021.
