Source: Office for National Statistics
Shoppers have started shopping for Christmas early, as UK sales at clothing stores jumped to near pre-pandemic levels, but online sales plunged to record-lows. FTSE 100 down -0.25%, GBP USD down -0.46%
- The Office for National Statistics stated that the rush to get presents pushed sales volumes up 0.8% in October, ending five straight months of flat volumes.
- Non-food stores were the only main retail sector to record an increase in sales volumes in the previous month, with toy stores, charity shops, sports stores, and clothes stores all up.
- Clothes stores posted a 6.2% increase in sales volumes. That figure is only 0.5% below the pre-pandemic levels posted in February 2020.
- Fuel sales dropped sharply last month by 6.4% as they fell back to moderate levels after panic buying in September.
- Food sales volumes dropped 0.3% but were still above pre-pandemic levels by 3.4%.
- ONS chief economist Grant Fitzner stated that after five straight months of no expansion, retail sales rose in October.