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UK: Retail sales are recovering from recent setbacks

LONDON (dpa-AFX) – Business at British retailers picked up in October. Sales rebounded after two consecutive contractions and rose 0.6 percent from the previous month, the statistics office ONS reported in London on Friday. Experts expected an average increase of 0.5 percent.

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In September and August, retail sales fell further due to higher inflation. The rebound in September was also somewhat stronger than previously known. The Bureau of Statistics revised the month-on-month decline to 1.5 percent, after earlier reporting a 1.4 percent fall. The September data was weighed down by the state funeral for Queen Elizabeth II, which kept shops closed.

On a year-on-year basis, growth in October was slightly better than expected. In that respect, the Census Bureau reported only a 6.1 percent decline, while analysts had expected a 6.5 percent decline.

According to the Statistics Office, sales growth in October covered almost all major sectors. Only grocery saw a decline./jkr/stk

Source: dpa-AFX