UK Retail Spending Grows Modestly
British retail spending increased modestly in October as consumers held back purchases to wait for Black Friday deals. Surveys showed annual growth ticked up slightly despite lingering caution over household costs.
Insights:
British retail spending grew 1.5% in annual terms in October across the United Kingdom, accelerating from September's 1.3% rise. Consumers held back on discretionary purchases during the four weeks to October 31 while anticipating upcoming Black Friday discounts. Higher petrol prices and general household costs also weighed on overall spending momentum ahead of the national budget.
