ONS data yesterday showed that September retail spending in the UK grew at its slowest pace in four years. Dropping by 0.8 per cent M/M, down 0.7 per cent excluding fuel, this took the annualised rate down to 1.2 per cent and 1.6 per cent respectively; this compares to spending rising at 2.3 per cent in August. Senior statistician Kate Davies said, ‘there is a continuation of the underlying trend of steady growth in sales volumes following a weak start to the year, with a background of generally rising prices’.
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