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MNI BRIEF: UK Retail Sales Fall For 5th Straight Month

MNI (London)
(MNI) London

Sluggish UK consumer to weigh on third quarter GDP

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UK retail sales fell by 0.2% in September, the fifth straight decline, the longest losing streak since the series began in 1996. The outcome was far below City expectations, but confirmed the warnings of retail industry insiders highlighted in MNI's latest Reality Check.

Sales volumes slumped by 3.9% between July and September, leaving retail poised to shave 0.2% from gross domestic product in the third quarter, the ONS said Friday. Total sales declined by 1.3% over September of 2020, but remain 4.2% above pre-pandemic levels.

Despite widespread reports of petrol shortages last month, motoring fuel sales rose by 2.9% in September, as consumers filled their tanks when they could. The leaves fuel sales 1.8% above pre-pandemic levels.