Retail sales fell at their fastest rate for six months in October as Britons cut back their spending on home appliances and electronics and mild weather hit sales of winter clothing.
Figures from the Office for National Statistics showed that retail sales volumes shrank by 0.5% over the month, when economists had been forecasting growth of 0.2% compared with September.
Retail sales, a key measure of household confidence, have held up well since the Brexit vote, despite the squeeze on real incomes last year. With much of the economy dependent on consumer spending, a healthy retail sector is considered a bellwether for the nation’s immediate prospects.
