BREAKING NEWS

Now Reading:

Chill winds drive October UK retail sales growth by most since 2002


economy

Chill winds drive October UK retail sales growth by most since 2002

ALL VIEWS

Tap to find out

It was spend, spend, spend in Britain in October as retail sales surged by 1.9 percent from the previous month.

Clothing flew off the racks as the weather turned colder and people were not scared to splash out on Halloween related items.

Consequently, annual sales growth was the highest in over 14 years, jumping 7.4 percent from October last year.

And it was not just increased footfall in the stores as internet orders saw their strongest growth in five years – up by 26.8 percent from a year earlier.

Sales volume is often volatile month to month, and clothing is particularly sensitive to the weather. But even for the three months to October as a whole sales rose 5.9 percent from last year.

However the Bank of England and many other economists do not think the sales surge can last as rising prices will reduce Britons’ disposable income.

In a survey of households published one day before the retail sales statistics were released respondents expressed the greatest concern about price rises in nearly two and a half years.

ALL VIEWS

Tap to find out

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article

economy

British jobless rate falls to 11-year low