Retail sales grow for sixth months running but lockdown expected to slow rate in November

Better-than-expected rise

David Brenchley
clock • 1 min read

Retail sales volumes in the UK rose by 1.2% in October, the Office for National Statistics said on Friday (20 November), the sixth consecutive month of increases.

The growth came in well ahead of consensus expectations, which were for sales to remain flat, with DIY and household furnishing stores benefiting from consumers' move to improve their living space. Most sectors have rebounded to above their pre-Covid levels, with clothing and fuel the only areas languishing below February's reading. The figures take into account the period before the current lockdown measures were introduced across England, in which non-essential stores were once more forced to close. Capital Economics' Paul Dales said the numbers suggested the economy held up bett...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Chancellor unveils 50% relief

Cristian Angeloni
clock 30 October 2024 • 1 min read
Cash in Conversation: A poll for financial advisers

Cash in Conversation: A poll for financial advisers

Professional Adviser
clock 29 October 2024 • 1 min read
The challenges and opportunities for active managers

The challenges and opportunities for active managers

'We believe good active managers always have a place in a portfolio'

Darius McDermott
clock 29 October 2024 • 5 min read