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

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

<p>It was spend, spend, spend in Britain in October as retail sales surged by 1.9 percent from the previous month.</p> <p>Clothing flew off the racks as the weather turned colder and people were not scared to splash out on Halloween related items.</p> <p>Consequently, annual sales growth was the highest in over 14 years, jumping 7.4 percent from October last year. </p> <p>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.</p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Online spending increased by 26.8% in Oct 16 compared with Oct 15, biggest year on year rise since 2011 <a href="https://t.co/aUbuZnxet4">https://t.co/aUbuZnxet4</a></p>— <span class="caps">ONS</span> (@ONS) <a href="https://twitter.com/ONS/status/799183734272565248">November 17, 2016</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <p>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.</p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Commenting on today’s official retail figures, Kate Davies, <span class="caps">ONS</span> Senior Statistician, said: <a href="https://t.co/weoSlh8A4a">pic.twitter.com/weoSlh8A4a</a></p>— <span class="caps">ONS</span> (@ONS) <a href="https://twitter.com/ONS/status/799187791376740352">November 17, 2016</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <p>However the Bank of England and many other economists <a href="http://www.euronews.com/2016/11/15/uk-inflation-slips-but-bank-of-england-warns-of-price-rises-ahead">do not think the sales surge can last</a> as rising prices will reduce Britons’ disposable income. </p> <p>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.</p>