UK, October retail sales +0.6% m/m -6.1% y/y

UK, October retail sales +0.6% m/m -6.1% y/y

(Tiper Stock Exchange) – UK retail sales improve in October 2022. According to the Office for National Statistics, retail sales hit a increase of 0.6% on a monthly basis, after the -1.5% recorded in September (data revised from -1.4%). The figure is better than analysts’ expectations which were for a rise of 0.3%.

The increases over the course of the month were observed in all major sectors except grocery storeswhere sales volumes decreased by 1.0% in October 2022, 4.1% below the pre-coronavirus levels of February 2020.

Every year one registers negative change of 6.1% compared to -6.8% in September (revised by -6.9%) and against the consensus -6.5%.

The core retail sales, which exclude fuels, rose by 0.3% month on month after -1.5% the previous month, against +0.6% estimated by the market. Over the year, the core data recorded a -6.7% versus -6.1% prior and -6.9% expected.

THE Sales volumes decreased by 2.4% in three months up to October 2022 compared to the previous three months; this continues the downward trend seen since summer 2021.

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