Retail sales drop more than expected in September
By Michele Maatouk
Date: Friday 20 Oct 2023
(Sharecast News) - UK retail sales fell much more than expected in September as unseasonably warm weather dented clothing sales, according to figures released on Friday by the Office for National Statistics.
Sales were down 0.9% on the month following a 0.4% increase in August, versus consensus expectations for a 0.2% decline.
On the year, sales fell 1% in September following a 1.3% drop a month earlier.
The data showed that sales at both clothing stores and department stores fell 1.6%.
Meanwhile, non-store retailing sales declined 2.2% in September, with retailers reporting a hit from the unseasonably warm weather and the ongoing cost-of-living crisis.
ONS chief economist Grant Fitzner said: "Retail sales fell notably in September with retailers telling us that cost-of-living pressures are influencing consumers, particularly for sales of non-essential goods.
"It was a poor month for clothing stores as the warm autumnal conditions reduced sales of colder weather gear.
"However, September's unseasonable warmth did help drive up food sales a little, and fuel sales rebounded from last month's fall."
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