UK consumers keep on shopping
Sales volumes increase at double forecast
November 21 2002
High spending by UK consumers pushed sales volumes in October up by twice the rate expected by the City economists.
The Office for National Statistics reported a retail sales increase of 0.8 per cent, pushing sales up to 6 per cent higher than a year ago.
The three-month growth rate was 1.6 per cent, the strongest rise since June, and up from 0.9 per cent in the three months to September. The October forecast has been for a monthly rise of just 0.4 per cent, following a downwardly revised 0.3 per cent rise in September.
Sales were particularly strong in department store, and in the clothing and footwear sector. Household goods sales were up 1.2 per cent, food sales 0.8 per cent, and clothing up 1.6 per cent.
