Economics
U.K. Retail Sales Increase Most on Record in Third Quarter
- Jump led by home improvement, food sales as lockdown lifted
- Outlook uncertain amid rising unemployment, Brexit worries
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U.K. retail sales rose more than expected last month as demand for home improvement products and food contributed to the biggest quarterly jump on record.
The volume of goods sold in stores and online gained 1.5% from August, the Office for National Statistics said Friday, beating economists estimates for a reading of 0.2%. Sales were 17.4% higher in the third quarter following a lockdown-induced slump in the previous period.