UK retail sales fell by 0.3% in October compared to September, according to data published by the Office for National Statistics on Friday (17). The result disappointed analysts consulted by FactSet, who expected a 0.3% increase in sales for the period.
Compared to the same month last year, British retail sales contracted by 2.7% in October.
Sales volumes fell by 1.1% in the quarter ending October 2023 compared to the previous three months.
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Motor fuel sales fell by 2.0% during the month and 0.7% in the October quarterly reading, a movement attributed to higher prices in this period.
Food store sales volume decreased by 0.3% in October, after remaining stable (0.0%) in September. Non-food store sales volumes fell 0.2% in October, after a 2.1% decline in the previous month.
For British retailers, the higher cost of living, lower footfall and wet weather in the second half of the month contributed to the decline.
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Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
