- UK retail sales dropped 0.5% m/m in Oct, a negative surprise
- The core retail sales in the UK fell by 0.4% m/m in Oct.
The UK retail sales dropped 0.5% over the month in October, surprising markets to the downside while core retail sales stripping the auto motor fuel sales also unexpectedly fell 0.4% m/m.
On an annualized basis, the UK retail sales fell 2.2% in October versus 3.0% expected while the core retail sales also ticked 2.7% higher in the reported month versus 3.6% previous and 3.3% expectations.
Main Points:
The year-on-year average store price for fuel continued to increase in October 2018 to 11.4%; this is the 26th consecutive month to show an increase.
Online sales as a total of all retailing increased to 18.0% from the 17.7% reported in September 2018, with textile, clothing and footwear stores continuing a record proportion of online sales at 18.2%; this was despite a fall in total retail spending in this sector.
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