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

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam