Retail sales unexpectedly dropped for a fifth month in a row, driven by a sharp fall in furniture stores.
The volume of monthly retail sales in Great Britain fell 0.2 per cent in September from August, the Office for National Statistics said on Friday. That missed forecasts of a 0.5 per cent expansion in a Reuters poll and marked the longest period of consecutive monthly declines since records began in 1996.
“After enjoying a post-pandemic recovery for most of the year, September was a more challenging month for retailers as shoppers tightened their belts amid talk of a cost-of-living crisis,” said Lynda Petherick, head of retail at Accenture UKI.
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