Shock fall in September retail sales

first_img THE high street suffered a shock fall in retail sales last month, raising fears that consumer spending is slowing even before the austerity measures really begin to bite. Headline retail sales fell by 0.2 per cent for a second consecutive month in September after a downwardly-revised drop of 0.7 per cent in August. Economists had expected a rise of 0.3 per cent. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo whatsapp Tags: NULL Share Show Comments ▼ Shock fall in September retail sales KCS-content whatsapp On a quarterly basis, sales grew by one per cent in the third quarter but this was less than the 1.5 per cent growth seen in the three months to August. This slowing underlying trend has primarily been driven by weaker food sales with quarterly food store sales volume contracting by -1.1 per cent in September.In annualised terms retail sales growth was a pedestrian 0.5 per cent, although if you strip out auto fuel it was 1.8 per cent. “That is pretty slow – not surprising when earnings growth is not keeping pace with inflation and a double-dip in the housing market has probably sapped confidence,” said BNP Paribas’ Alan Clarke. The largest fall in core sales last month was in textiles and clothing, which dropped by 0.8 per cent on the month following a 0.7 per cent fall in August.Andrew Goodwin, senior economic adviser to the Ernst & Young ITEM Club, said: “It is a picture of consumer demand stagnating through the middle of this year. In fact sales levels are barely higher than this time last year and that comes as little surprise given how weak the fundamentals are right now.”“The outlook remains pretty bleak for consumers. The final few months of the year might look artificially good if January’s VAT rise encourages consumers to bring forward their purchases of big-ticket items. But after that consumer demand is likely to remain soft with numerous headwinds buffeting households,” Goodwin added. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com Thursday 21 October 2010 9:05 pmlast_img read more