2017.10.1904:44:00UTC+00UK Retail Sales Fall More Than Forecast In September

UK retail sales declined more than expected in September, figures from the Office for National Statistics revealed Thursday.

Retail sales including auto fuel, dropped 0.8 percent month-on-month in September, reversing a 0.9 percent rise in August.

This was the first fall in four months and the biggest since March. Sales were forecast to drop marginally by 0.2 percent.

Likewise, retail sales volume excluding auto fuel slid 0.7 percent, in contrast to August's 0.9 percent increase. Economists had forecast a 0.1 percent fall for September.

On a yearly basis, growth in retail sales, including auto fuel, slowed to 1.2 percent in September from 2.3 percent in August. This was also weaker than the expected 2.1 percent.

Excluding auto fuel, retail sales climbed 1.6 percent, slower than the 2.6 percent increase seen in August. The expected growth rate was 2.2 percent.