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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 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.

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