Thursday, October 18, 2012
Retail sales bounce
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

After slipping by 0.1% in August, when people appear to have been distracted by the Olympics, retail sales volumes rose by 0.6% in September. Volumes were up by 2.5% on a year earlier (2.9% excluding automotive fuel), and by 1% in the third quarter compared with the second (0.7% excluding fuel). This should mean consumer spending makes a reasonable contribution to third quarter growth.

Sales value rose by 1.1% between August and September, following a 0.2% increase between July and August. The Office for National Statistics attributes some of that rise to school uniforms, though September seems a little late for that. More here.