(Bloomberg) — 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.
While the report will be welcome for policy makers hoping to support the economy going into winter, there are already signs that rising unemployment and the prospect of a messy divorce from the European Union at the end of the year.
Household confidence was starting to retrench even before the virus flared up again, forcing many areas into renewed restrictions, a report by GfK showed Friday. The number of job cuts jumped the