LONDON (Reuters) -British retail sales unexpectedly rose 0.5% in September, official figures showed on Friday.
Economists polled by Reuters had expected sales to slip by 0.2% from the month before.
Compared with a year earlier, retail sales volumes were 1.5% higher versus economists’ expectations of a 0.4% rise.
British retail sales had performed relatively strongly over the summer months, helped by unusually warm, sunny weather and sporting events.
Earlier on Friday Britain’s longest-running consumer survey, from GfK, rose slightly to give an October reading that was the joint-highest since August 2024.
However, overall consumer spending has been subdued due to a continued high savings rate, which economists say may reflect 2022’s surge in inflation, a more recent weakening in the jobs market and concerns about tax rises in November’s budget.
Recent updates from major British retailers have been mixed.
Tesco, the country’s biggest food retailer, raised its full-year profit forecast and said it was betting on a good Christmas. However, baker and fast-food chain Greggs reported a further slowdown in sales growth and discounter B&M warned on profit twice in less than three weeks.
(Reporting by David Milliken; editing by William James)
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