Rachel Reeves was blamed for shoppers shunning Black Friday sales today after retail sales fell last month.
Analysts said the Chancellor ‘running confidence into the ground’ was partly behind volumes dipping 0.1 per cent.
It was the second consecutive monthly fall after a 0.9 per cent reduction in October – wiping out the 0.8 per cent boost seen in September.
The ONS said retail sales were still up in the latest three month period compared to the three months to August.
However, the disappointing numbers sparked concerns about prospects for the so-called Christmas ‘golden quarter’.
ONS senior statistician Hannah Finselbach said: ‘Retail continued to grow in the three months to November, helped by a strong performance from clothing and tech shops.
Rachel Reeves was blamed for shoppers shunning Black Friday sales today after retail sales fell last month
Analysts said the Chancellor had ‘talking confidence into the ground’ was partly behind volumes dipping 0.1 per cent
‘This year November’s Black Friday discounts did not boost sales as much as in some recent years, meaning that once we adjust for usual seasonality, our headline figures fell a little on the month.
‘Meanwhile, our separate household survey showed that although some people said they were planning to do more shopping more this Black Friday than last, almost twice as many said they were planning to do less.’
Jonathan Moyes, Head of Investment Research at Wealth Club, said: ‘This is another grim reading on the health of the UK economy.
‘The credit for these numbers will surely go to the Chancellor, who spent much of the month running what little confidence the UK consumer had into the ground.
‘Clearly consumers are hurting and higher taxes will only make matters worse, potentially hampering economic growth and risking an economic doom loop.
‘The government will be hoping that something or someone comes to the rescue, as the plan to drive growth is clearly going in the wrong direction. The Bank of England cut rates yesterday, but there was clearly some reticence to cutting further.’
Rajeev Shaunak, head of consumer at MHA, said: “Retail sales remained flat this November, after a weak October, indicating that the much-anticipated Black Friday week rush failed to materialise for retailers.
‘As the festive season approaches, many on the High Street will be hoping for a further spending boom that seems increasingly unlikely.
‘We should learn more after the details of Saturday’s footfall emerges given it is the busiest shopping day of the year.
‘Despite the early present of inflation falling more than expected earlier this week and an interest rate cut yesterday, evidence suggests households are tightening their belts ever tighter.’
