UK Retail Sales Growth Cools in October – BRC

British retail sales growth cooled last month, marking the weakest performance for the month of October since 2008, according to a survey from the British Retail Consortium on Tuesday.

The BRC said the total value of retail sales between Oct. 4 and Oct. 31 was 0.9 percent higher than in the October period of 2014, down from a 3.9 percent surge in September.

The slowdown may have been partly down to shoppers holding off for the November “Black Friday” sales, which have become increasingly popular over the last few years in Britain, the BRC said.

“October was a somewhat disappointing month overall for retailers, with just 0.9 percent growth, slower than the three and twelve-month averages,” Helen Dickinson, the BRC’s chief executive, said.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.