{"id":115595,"date":"2024-01-09T09:17:11","date_gmt":"2024-01-09T09:17:11","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115595"},"modified":"2024-01-09T09:36:02","modified_gmt":"2024-01-09T09:36:02","slug":"108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\/","title":{"rendered":"GBP\/EUR: Pound falls as retailers see lackluster Christmas sales"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) falls after 3-days of gains<\/strong><\/li>\n<li><strong>Christmas sales raise concerns of a recession in Q4<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rises despite German industrial production falling<\/strong><\/li>\n<li><strong>Eurozone unemployment data is due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is falling after three days of gains. The pair rose 0.13% in the previous session, settling on Monday at \u20ac1.1637 and trading in a range between \u20ac1.1597 &#8211; \u20ac1.1626. At 08:00 UTC, GBP\/EUR trades -0.04% at \u20ac1.1633.<\/p>\n<p>The pound is drifting lower after figures show that UK retailers experienced lackluster sales around Christmas.<\/p>\n<p>The British Retail Consortium said spending in cash terms in December was 1.7% higher than a year earlier; however, when inflation is taken into account, this represents a decline, adding to concerns that the economy has tipped into a mild recession.<\/p>\n<p>Households have continued to struggle as the Bank of England raised interest rates to a 15-year high of 5.25%.<\/p>\n<p>With consumer price inflation at 3.9% in November, this is still well above the Bank of England&#8217;s 2% target.<\/p>\n<p>The euro is rising despite German industrial production data disappointing and raising the likelihood that the eurozone&#8217;s largest economy will enter a recession in the final quarter of 2024.<\/p>\n<p>German industrial production continued a downward trend in November falling 0.7% month on month after falling 0.3% month on month in October. On a yearly basis, industrial output was down almost 5%, with a sharp drop in construction activity particularly concerning.<\/p>\n<p>The data comes after mixed data from Germany in previous sessions. Last week, retail sales slumped 2.5% month on month, highlighting the struggles that households face as inflation ticked higher.<\/p>\n<p>However, exports have been a bright spot in the economy, rising by a larger-than-expected 3.9%. However, that&#8217;s unlikely to be sufficient to ward the economy away from a technical recession in the final quarter of the year.<\/p>\n<p>Looking ahead, eurozone unemployment data is due and is expected to show that the unemployment rate remained steady at 6.5% in November.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) falls after 3-days of gains Christmas sales raise concerns of a recession in Q4 Euro (EUR) rises despite German industrial production falling Eurozone unemployment data is due The Pound Euro (GBP\/EUR) exchange rate is falling after three days of gains. The pair rose 0.13% in the previous session, settling on Monday at \u20ac1.1637 [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-115595","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound falls as retailers see lackluster Christmas sales - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound falls as retailers see lackluster Christmas sales\",\"datePublished\":\"2024-01-09T09:17:11+00:00\",\"dateModified\":\"2024-01-09T09:36:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\\\/\"},\"wordCount\":322,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100202-gbp-usd-low-uk-retail-sales.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108007-gbp-eur-pound-falls-as-retailers-see-lackluster-christmas-sales\\\/\",\"name\":\"GBP\\\/EUR: Pound falls as retailers see lackluster Christmas sales - 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