United Kingdom Retail Sales Mom

Retail sales in the UK unexpectedly increased 0.3% month-over-month in September 2024, following a 1% surge in August and beating forecasts of a 0.3% drop. Sales at non-food stores jumped 2.5%, following a 0.6% rise in August, mostly led by computers and telecommunications retailers. On the other hand, sales at supermarkets fell 2.4%, the largest drop so far this year, dragged down by unseasonably poor weather and consumers continuing to cut back on luxury food items. Online sales went up 1.3%. Year-on-year, retail sales jumped 3.9%, the biggest annual rise since February 2022, following a downwardly revised 2.3% rise in August and forecasts of 3.2%. Considering the third quarter of the year, retail sales rose 1.9% from the previous period.