UK retail trade declines

LONDON, (EFE).- Retail trade turnover unexpectedly fell by 0.3% last October, reaching its lowest level since February 2021, according to data released on Friday by the Office for National Statistics (ONS).

This official body indicated, in a statement, that the data corresponding to the month of September was revised, and was updated from a decrease from 0.9% to 1.1%.

Analysts had expected a 0.4% increase for last month based on estimates provided by Pantheon Macroeconomics.

Food sales in the country declined

However, contrary to these expectations, food stores in the country saw their sales decline by 0.3% during the aforementioned month, a worse result than those achieved in September, while non-food stores recorded a decrease in their sales by 0.2% in October. the first. Compared to September’s decline of 2.1%.

The country’s retail sector attributed the decline in sales to the cost of living and wet weather in the second half of October.

“Retail sales fell again in October to their lowest level since February 2021, when lockdown restrictions were widely in place,” Heather Bovell, deputy director of economic surveys and indicators at the ONS, said today.

Sales recorded in September

The expert explained that after the recovery recorded in September, “fuel sales declined due to consumer frustration with rising prices, while food sales also declined as consumers prioritized basic foods.”

“It was another bad month for home goods and apparel retailers, with these retailers blaming cost-of-living pressures and bad weather,” he noted.

However, Bofill added that “it was a better month for online retailers, the only sector to record growth in October.” Evie

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