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Financial News: UK Retail Sales Rise In October

UK Retail Sales Rise In October

11/16/2017 - 05:21:00 (RTTNews)

(RTTNews) - UK retail sales grew moderately in October, the Office for National Statistics reported Thursday.

Retail sales increased 0.3 percent in October from September, but slightly faster than the expected 0.2 percent.

Excluding auto fuel, sales volume grew only 0.1 percent. Economists had forecast sales to remain flat.

On a yearly basis, overall retail sales volume fell 0.3 percent on month, reversing a revised 1.3 percent rise in September. Sales were forecast to drop 0.5 percent.

Likewise, excluding auto fuel, retail sales dropped 0.3 percent in contrast to September's 1.6 percent increase. Economists had forecast a 0.4 percent decrease. "We are continuing to see an underlying picture of steady growth in retail sales, although this October suffered in comparison with a very strong October in 2016," Kate Davies, ONS senior statistician, said.

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