Companies and Markets
Call us on +44 (0) 203 086 8600
Market Research A to Z | Company Profiles A to Z | RegisterRegister | Contact UsContact Us | Shopping Basket Shopping Basket
+44 (0) 203 086 8600 Call us on

UK retail market suffers biggest decline for six months

Industry Sector

Retail

Published

15 November 2012

Author

Matt Bodimeade

Type of News

Market

Sales within the UK retail market fell by more than had been forecast in October, as shoppers cut back spending on food and clothing products, meaning the market suffered its biggest slump in sales volumes for six months.

Sales including fuel dropped 0.8% from September, when they gained a revised 0.5%, the Office for National Statistics said today in London. The median forecast of 23 economists in a Bloomberg News survey was for a 0.1% decline. Food, which accounts for about 41% of UK retail market sales, declined 0.6%.

Analysts had expected a fall in October of about 0.2%, and the steeper decline may add to worries about economic growth following Wednesday's Bank of England warning about the UK recovery.

Clothing sales, which account for about 12% of total retailing, plunged 2.3% in October from the previous month. Sales of clothes had surged 1.9% in September due to a boost from school uniforms. From a year earlier, total retail sales were up 0.6% in October.

Today's numbers aren't terribly positive as far as the fourth-quarter gross domestic product goes," said David Tinsley, an economist at BNP Paribas SA in London.

"There is a reasonable chance that the fourth-quarter release will show the economy slipping backwards. That will raise the political heat for the government amidst talk of the economy triple dipping."UK Retail

Retailers will now be looking to the key Christmas period to boost sales. A survey by the CBI business group late last month reported that retailers expected a pick-up in sales in November.

For more information on the UK retail market, see the latest research: UK Retail Market

Follow us on Twitter @CandMResearch

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency

GBP
USD

Change Currency

GBP
USD

Use our research skills: Get free support

Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support

eBrandPromote: Get your brands ranked highly online

eBrandPromote: Let us promote your brand online through article writing, press release distribution, social media and search engine marketing services. Click here to download our eBrandPromote brochure.

Accessibility
Close

Contrast settings

Text size settings