British retail sales unexpectedly went downward last month, as shoppers held back for winter clothing purchases due to mild weather and cut back on other goods after a heavy-spending summer.
Retail sales volumes in October alone dropped by 0.5 percent from September, though a forecast suggested a rise by 0.2 percent. October data from the British Retail Consortium and Barclaycard showed households were continuing to shop cautiously after reining in spending in September, and some shoppers were delaying purchases ahead of anticipating Black Friday discounts in November.
Although, Britain’s economy has slowed since June 2016’s Brexit vote, it enjoyed a solid summer with household spending growing by 0.5 percent in the three months to September.
Year-on-year growth slowed to 2.2 percent from an upwardly revised 3.3 percent in September, the slowest since April . According to ONS statistician Rhian Murphy, household goods and retail sales has slowed down after a buoyant summer with the mild autumn hitting winter clothes sales. Looking at the three months to October as a whole, which smooths out some monthly volatility, sales growth slowed to 0.4 percent from 1.2 percent, also the weakest growth since April.
Thursday’s ONS data showed the sharpest monthly fall in purchases of household goods, such as electronics and home appliances, since December 2017.
Many British retailers have reported difficult trading conditions.
