UK Retail Sales Fall More than Expected in October

UK retail sales fell by more than expected in October as shoppers cut back on food and clothing purchases, official data shows.

The Office for National Statistics said sales volumes fell 0.8% last month, having risen by 0.5% in September.

Food stores reported the biggest monthly decline in sales since November 2011.

Compared with a year earlier, retail sales were up 0.6%, although this was also below analysts’ forecasts.

Analysts had expected a fall in October of about 0.2%, and the steeper decline may add to worries about economic growth following Wednesday’s Bank of England warning about the UK recovery.

via BBC

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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
Alfonso Esparza

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