Retail slump raises spectre of recession as Hunt looks more Truss-like by the day

Surprise fall in December sales damages chancellor’s claims that UK economy is on right track

• Retail sales in Great Britain plummet
• Business live – latest updates

The UK economy was probably in recession during the second half of 2023 if the latest retail sales figures are anything to go by.

A surprise 3.2% slump in the level of sales in Great Britain during December appears to show the cost of living crisis was continuing to hurt household finances despite a rise in wages that gave many consumers a bit more spending power.