The UK’s latest retail sales figures are out, and they’re extremely strong.
Sales surged upwards, rising 6.5% in the year to September, an increase of 1.9% month-on-month alone.
That’s far better than anyone expected, and may cause people to revise expectations for a minor slowdown in the British economy as the year comes to an end.
Sales rose by 3.7% year-on-year in August, and analysts were expecting a rise of 4.8% year-on-year in September.
Retail sales are closely watched as a proxy for consumer confidence and demand.
The UK’s economic recovery is particularly consumer-driven, so any uptick or dip in sales could indicate an acceleration or slowing in growth.
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