Retail sales volumes were up 1.5%\u00a0in September year-on-year, following 0.7% growth in August.<\/p>\n
The month saw sales volumes rise among computer and telecoms retailers as well as online jewellers where there was strong demand for gold, that was offset by a modest decline in sales in department stores.<\/p>\n
Retail sales had been expected to rise 0.6% (Trading Economics).<\/p>\n
Nicholas Hyett, Investment Manager at Wealth Club, said,\u00a0\u201cRetail sales boomed in September \u2013 smashing though expectations and rising 1.5%.<\/p>\n
\u201cThe steady increase in real wages (with pay rising faster than prices) will be underpinning that growth\u00a0 \u2013 but it has still taken analysts by surprise.<\/p>\n
A strong result from non-store retailers, particularly computing and telecoms retailers, suggests consumer confidence is returning. But it\u2019s increased demand for gold from online jewellers that is most interesting. On the one hand expensive jewellery is the kind of discretionary purchase consumers tend to make when they\u2019re feeling flush with cash, on the other gold is a safe haven in times of uncertainty. It\u2019s unclear which of those contradictory urges is driving demand.<\/p>\n
Either way it looks like the great British public have indulged in a healthy dose of retail therapy in September. It\u2019s just unclear whether that\u2019s to block out the coming winter gloom or reflects a fit of high spirits.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Retail sales volumes were up 1.5%\u00a0in September year-on-year, following 0.7% growth in August. The month saw sales volumes…\n","protected":false},"author":2,"featured_media":524450,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5018,3,4],"tags":[748,1700,393,474,4884,1144,363,712,16,15,1764],"class_list":{"0":"post-524449","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-britain","8":"category-uk","9":"category-united-kingdom","10":"tag-britain","11":"tag-economy","12":"tag-england","13":"tag-finance","14":"tag-great-britain","15":"tag-northern-ireland","16":"tag-retail","17":"tag-scotland","18":"tag-uk","19":"tag-united-kingdom","20":"tag-wales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115428592784530527","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/524449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=524449"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/524449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/524450"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=524449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=524449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=524449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}