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MNI BRIEF: UK Retail sales rally after Sept State Funeral hit

(MNI) LONDON
(MNI) London

Sales bounce back after late Queen's funeral hit September, but tougher times ahead.

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UK retail sales rose in October, recovering from the weak sales seen in September when many retailers closed or operated differently on the extra bank holiday for the late Queen’s funeral, the Office for National Statistics said Friday.

Overall retail sales rose 0.6% month-on-month, recovering from a 1.5% fall seen last month, but fell 6.1% year-on-year. Compared with February 2020, sales are still 0.6% lower overall. “Looking at the broader picture, retail sales continue their downward trend seen since summer 2021 and are below where they were pre-pandemic,” Darren Morgan, ONS director of economic statistics said.

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UK retail sales rose in October, recovering from the weak sales seen in September when many retailers closed or operated differently on the extra bank holiday for the late Queen’s funeral, the Office for National Statistics said Friday.

Overall retail sales rose 0.6% month-on-month, recovering from a 1.5% fall seen last month, but fell 6.1% year-on-year. Compared with February 2020, sales are still 0.6% lower overall. “Looking at the broader picture, retail sales continue their downward trend seen since summer 2021 and are below where they were pre-pandemic,” Darren Morgan, ONS director of economic statistics said.

Keep reading...Show less