Retail sales in the UK surprised analysts in September 2024 with a 0.3% rise, beating forecasts of a 0.3% decline. This follows a strong 1% growth in August, indicating that consumer spending remains resilient despite economic challenges. Non-food stores were the biggest contributors to the rise, posting a 2.5% increase in sales, driven largely by the tech sector, particularly computers and telecommunications equipment.<\/p>\n\n\n\n
While non-food sectors thrived, supermarkets faced a significant 2.4% drop in sales, the largest so far this year. This decline has been attributed to unseasonably poor weather and consumers tightening their belts, especially when it comes to luxury food items. Despite efforts to attract shoppers, supermarkets continue to feel the impact of cautious consumer spending patterns as people prioritize essential purchases over discretionary spending.<\/p>\n\n\n\n
Online sales showed steady growth, rising by 1.3% in September, reflecting a continued shift towards e-commerce. Year-on-year, retail sales jumped by 3.9%, the biggest annual increase since February 2022, outpacing the forecasted 3.2% rise. For the third quarter of 2024, retail sales saw a 1.9% increase from the previous quarter, suggesting that overall, the retail sector remains strong despite some sector-specific challenges.<\/p>\n\n\n\n
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Retail sales in the UK surprised analysts in September 2024 with a 0.3% rise, beating forecasts of a 0.3% decline. This follows a strong 1% growth in August, indicating that consumer spending remains resilient despite economic challenges. Non-food stores were the biggest contributors to the rise, posting a 2.5% increase in sales, driven largely by […]<\/p>\n","protected":false},"author":2,"featured_media":653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,2],"tags":[37,27],"class_list":["post-651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-economy-news","category-news","tag-financialnews","tag-marketanalysis"],"_links":{"self":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=651"}],"version-history":[{"count":1,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/651\/revisions"}],"predecessor-version":[{"id":654,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/651\/revisions\/654"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media\/653"}],"wp:attachment":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}