The Office for National Statistics (ONS) revealed that UK retail sales volumes declined by 1.4% last month. However, it was notably worse than expected, after a consensus of economists predicted retail sales would only fall 0.5% for the month. Retail sales volumes fell by 1.4% in September, following August’s 1.7% fall. “Drops were seen across all main areas of retailing, with falling sales in food stores making the largest contribution. (PA Graphics)Meanwhile, non-store retailing, which is predominantly online stores, saw a 3% decline in sales volumes although this remains sharply above pre-pandemic levels.

Source: The Herald October 21, 2022 06:55 UTC