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Bigger discounts from retailers boosted shopper demand for goods in October in the UK

GBPUSD News by Newsroom on 20:44 November 04, 2019 EST

Retail sales were boosted in October as stores offered bigger discounts to tempt disengaged shoppers into making purchases, according to the BRC (British Retail Consortium)-KPMG retail sales monitor report released today.

Total sales increased by 0.6% year on year in October, marking the best performance since April, the report says.

A year earlier, however, sales had increased more strongly, lifting by 1.3% annually in October 2018.

On a like-for-like basis, retail sales across the UK increased by 0.1% year on year in October – the same as a 0.1% increase seen in October 2018.