Retail sales moderately down 0.1% in October
According to the latest figures released, the total retail sales in the UK has fallen moderately by 0.1 per cent in October as consumers looked only to purchase essential items.
A study by the British Retail Consortium (BRC) and professional services group KPMG showed that the retails sales were down 0.1 per cent during the month compared to the same month of the previous year.
The reports also showed that the total sales were higher 1.1 per cent compared to a 1.5 per cent rise in the same period of the previous year, which is the slowest growth in sales since November 2011 in the country.
In September, the like-for-like sales were up 1.5 per cent and total sales were up 3.4 per cent, unexpectedly. Experts had said that September data did not indicate true picture and BRC's director general described a "something of a false dawn".
He said that the falling consumer confidence indicates that the customers are only purchasing essential items and are staying away from discretionary spending in the retail sector. The online retail sales have also remained poor during the month.