Retail dip worse than expected

Weakening consumer confidence has led to a much worse than expected October for retailers. Retail sales volumes dropped 0.8% month-on-month.

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Retail sales dip a 'dispiriting result'

This is a really dispiriting result so close to Christmas. September's slight upturn in sales offered retailers mild cause for cheer, but it was frustratingly short-lived. Consumer confidence dropped to a six-month low in October and this has led to sales growth almost grinding to a halt at a critical point. With Christmas fast approaching, retailers will be hoping that the festive feelgood factor translates into a much stronger showing next time.

– British Retail Consortium

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Retail sales expected to fall after brief bounceback

Weak consumer confidence is expected to take its toll again on the high street following a bounceback in September.

  • Experts predict a 0.2% drop in retail sales volumes for October
  • It follows a 0.6% rise the previous month, driven by demand for warmer clothes and back-to-school clothing
  • But many consumers still face significant pressures of rising inflation, higher food prices and muted wage growth

Official figures are released at 9:30am.