Economy

Almost half of UK voters believe the economy will get worse over the next year, a new study has revealed.

In a survey by Ipsos MORI, 47% said they expected the economy to deteriorate, in comparison to the 26% who said it would improve.

However the overall economic optimism score of minus 21 is the third-worst recorded since March 2013.

With just a week to go before Philip Hammond's Autunm Statement, 39% said they were satisfied with the Chancellor's performance - a figure 12 points higher than predecessor George Osborne's last rating.

Ipsos MORI interviewed 1,013 adults between November 11 and 14.

• Video report by ITV News Economics Editor Noreena Hertz

UK retail sales rose at their strongest yearly rate in more than a decade in October as shoppers bought winter clothes and supermarkets reported a successful Halloween.

Sales were 7.4% higher than the same month last year, the fastest year-on-year growth since April 2002, Office for National Statistics figures show.

Online sales were at their strongest for five years, proving consumers remained eager to shop despite uncertainty over the potential fallout from Brexit.

The amount spent in the retail industry was up by 2.1% compared with September, while the amount spent online increased by 26.8% compared with October last year and by 1.3% compared with September 2016.

The rate of inflation fell to 0.9% in October from 1.0% in September, the Office for National Statistics said.

An ONS spokesman said: "The main downward contributors to the change in the rate were prices for clothing and university tuition fees, which rose by less than they did a year ago, along with falling prices for certain games and toys, overnight hotel stays and non-alcoholic beverages.

"These downward pressures were offset by rising prices for motor fuels, and by prices for furniture and furnishings, which fell by less than they did a year ago."