Mr Eckett's analysis points to some interesting trends at an individual share level, too. Inexplicably, the best December performer of the past decade has been aerospace group Senior, averaging a 10.8 per cent monthly return and only falling once. Three companies have risen in December every year for the past decade; Unilever, William Hill and Imperial Tobacco, returning on average 5.5, 5.8 and 7.6 per cent respectively. All, incidentally, are live IC buy tips.
Quite why these stocks do so well at Christmas isn't clear, but it chimes with the idea that it's also one of the most stressful times of year. The prospect of a whole month of shopping and family visits is enough to make anyone take up smoking, and a successful flutter at the bookies could be one way to alleviate the financial strain of the holiday season, if a rather hopeful one. Certainly, household finances are still in generally poor shape, even if, according to economists at Markit, the pace of deterioration has slowed recently.
At least the Autumn Statement offers some respite, not least the cancellation of a planned January 3p increase in fuel duty. Yet while George Osborne's plan to balance the nation's books is broadly on track - even if that's partly down to a £3.5bn one-off windfall from the 4G mobile telecoms spectrum auction that hasn't even happened yet - the austerity era will, it seems, last a year longer than previously expected. The Chancellor may have also offered up a few morsels to investors in the form of an increased ISA allowance and a possible end to the ludicrous exclusion of Aim stocks from the tax efficient wrapper, but a reduction in annual and lifetime tax-free pension contribution limits will hurt many and, by stoking fears that there could be further pensions tinkering, may discourage retirement saving. We discuss the full implications in Chancellor plans double-whammy pensions raid.
This week we've also been busily setting about the huge task of compiling our bumper Christmas issue – which comes out on 21 December - and planning January’s quick-fire succession of mega features, not least the tips of the year and the mammoth FTSE 350 review. Suffice to say, as many wind down for Christmas the workload here is rising. We’re confident, though, that you’ll find the effort worthwhile. Even if the jury is out on which way the global economy may be headed - and as Chris Dillow explains on page 19, UK shares may be cheap because growth is likely to remain elusive - at least our readers will be well prepared for whatever opportunities an uncertain world may throw at them next year.
