Economics
U.K. Retail Sales Rise as Christmas Shopping Kicks Off Early
- Sales rose 1.2% in October versus forecasts for a decline
- But subdued consumer confidence is a risk for stores
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U.K. retail sales rose for a sixth straight month in October, helped by early Christmas shopping as consumers moved to get ahead of virus lockdowns that closed stores.
The volume of sales increased 1.2%, defying economists’ expectations for a modest decline, according to data published Friday. But another report on household confidence gave reason for concern, showing that sentiment is subdued and people are more worried about their personal finances.