UK retail sales fall in October as Budget hits consumer confidence

Down 0.7%

Retail sales volumes declined by 0.7% in October, following a modest, downwardly revised rise of 0.1% in September.

According to data from the Office for National Statistics today (22 November), non-food stores sales volumes fell on the month, as retailers said uncertainty and low consumer confidence over this year's Autumn Budget impacted sales. The largest decline in retail sector volumes came from textile clothing and footwear stores, with sales falling by 3.1% from a month prior. Similarly, non-food stores sales recorded a 1.4% decline in sales in October, following a 2.3% rise in September. Hike in energy prices pushes inflation above BoE target at 2.3% in October Overall sales volumes rose...