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UK retail sales growth fell short of expectations last month, numbers on Friday showed, as non-food sales were hurt by pre-budget uncertainty.
According to the Office for National Statistics, UK retail sales volumes rose by 2.4% on-year in October, easing from a 3.2% climb in September and falling short of the FXStreet cited consensus of 3.4%.
September’s growth was downwardly revised from an initially reported 3.9% rise.
Retail sales fell 0.7% in October from September. They had edged up 0.1% in September from August, downwardly revised from an 0.3% climb.
The latest data undershot consensus. A lesser decline of 0.3% was expected, according to FXStreet.
‘Non-food stores sales volumes fell on the month as retailers reported that budget uncertainty affected sales,’ the ONS said.
‘When compared with their pre-coronavirus pandemic level in February 2020, volumes were down by
1.5%.’
The budget announcement was delivered in late-October.
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