UK Retail Sales Fall in September

U.K. retail sales fell to the lowest levels last month since December 2008, as food sales continued to decline and clothing and footwear sales hit record lows, according to widely followed report.

In a monthly joint report, the British Retail Consortium (BRC) and KPMG noted that a very warm summer had resulted in exceptionally low demand for “winter” items such as boots and coats in September.

This led to the lowest monthly fashion sales since April 2012.

Retail sales last month were down 2.1 percent on a like-for-like basis from September last year, when they increased 0.7 percent on 2012 levels.

“The prolonged Indian summer wilted retail sales in September, leaving clothing retailers hot under the collar. Selling woolly jumpers in warm weather is a tough ask, even for the most talented of sales staff,” David McCorquodale, head of retail at KPMG, said in the report.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza