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.
