Rugby World Cup defeat is a win for UK retail
Figures from the Office for National Statistics show retail sales jumped 1.9 per cent in September, beyond the expected 0.4 per cent gain.
Rugby fans may still be licking their wounds after England crashed out of the competition, but the defeat was a blessing in disguise for the nation’s shopkeepers.
Analysts have said that retail figures far exceeding expectations could be the result of World Cup fever, where shoppers spent far more than they usually would on food and drink and other goods – boosted by promotions and sales that kicked in when England dropped out.
Figures from the Office for National Statistics show retail sales jumped 1.9 per cent in September, beyond the expected 0.4 per cent gain.
In the year to September, sales were up by 6.5 per cent, their biggest rise since November 2014 and ahead of forecasts of a 4.8 per cent leap.
The growth - the 29th straight month of increases - was also fuelled by lower prices, which fell by 3.9 per cent in September.
Shoppers were also buying more, with the average amount bought up by almost 1 per cent, while food and drink sales were up 2.3 per cent on the month.
“Falling in-store prices and promotions around the Rugby World Cup are likely to be the main factors why the quantity bought in the retail sector increased in September at the fastest monthly rate seen since December 2013,” the ONS' Kate Davies said.
Retail sales alone were likely to boost third-quarter GDP by 0.1 per cent, the ONS added.
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