Median forecasts -0.3% and +0.9% respectively. Weakest m/m and y/y readings since January 2010.
ONS says fall in food and fuel sales gives weakest December y/y sales growth since records began in 1998. Harsh winter and rising prices factors. (Told you everyone I know was cutting back on using their cars and watching their food bills)
Cable down at session low 1.5879
Also bad news on housing front. Mortgage approvals by major UK lenders in December 40,000, down from 45,000 in November. Lowest since March 2009. More evidence UK house prices in for a rocky ride this year.
Net mortgage lending by major UK lenders +0.8 bln in December, about half the +1.4 bln in November, series low.
