UK Retail Sales Drop In September

UK retail sales fell by 0.3% in September from August, the slowest growth seen in 2014, according to the Office of National Statistics.

Retailers said that unseasonably warm weather during the fall meant customers pushed off buying clothes for autumn and winter.

However, sales were up 2.7% compared with the same month last year, representing the 18th consecutive month of year-on-year growth. Spending was also up 1.3% compared with September 2013.

The chart below shows the amount of retail goods bought (sales volume, in red) compared with the amount spent (sales value, in blue).

retail sales grew 1.2% monthly, versus expectations of 0.1%.

"Eurozone consumer remains a relative bright spot, but unlikely to last," Claus Vistesen of Pantheon Macro said.