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Story perspectives

UK Economic Stagnation Deepens Amid Consumer Caution

1/3/2025

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Summary

Story summary

November's money and lending data indicates ongoing consumer caution, influencing Q4 GDP forecasts.
Mortgage approvals totaled 65,720 in November, falling below expectations.
UK retail footfall decreased by 2.2% in December, the largest drop since 2021.
Economic stagnation persists, driven by increased taxes and changing shopping behaviors impacting retailers.

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Story summary

November's money and lending data indicates ongoing consumer caution, influencing Q4 GDP forecasts.
Mortgage approvals totaled 65,720 in November, falling below expectations.
UK retail footfall decreased by 2.2% in December, the largest drop since 2021.
Economic stagnation persists, driven by increased taxes and changing shopping behaviors impacting retailers.