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Home Business & Finance Stock Market

UK retail sales plunge in October By Reuters

November 22, 2024
in Stock Market
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European shares rangebound as energy gains offset tech losses By Reuters
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LONDON (Reuters) -British retail sales fell by much more than expected in October, dropping by 0.7% from September, according to official data that added to other signs of a loss of momentum in the economy early in the term of Prime Minister Keir Starmer.

A Reuters poll of economists had forecast a monthly fall of 0.3% in sales volumes from September.

The drop was the sharpest since June when sales fell by 1.0% from May.

A rise in sales in September was revised down to 0.1% from a previous estimate of a 0.3% gain.

The Office for National Statistics said during the 12 months to October, sales volumes rose by 2.4%, slowing from September’s 3.2% rise and weaker than the median forecast in the Reuters poll for a 3.4% increase.


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