UK Retail Sales Grow in October

British retail sales grew much more strongly than expected in October after a heavy fall in September, driven by purchases of furniture after the country’s housing market picked up speed earlier this year, official figures showed on Thursday.

Retail sales volumes rose 0.8 percent on the month after a fall of 0.4 percent in September, which had been their weakest performance since January as mild weather put shoppers off buying winter clothes, the Office for National Statistics said.

Clothing sales remained weak as mild weather continued in October.

Total sales rose 4.3 percent in October compared with the same month last year, the ONS said.

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