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![](https://www.pinterest.com/pin/create/button/?url=https://econotimes.com/UK-Retail-Sales-Defy-Expectations-with-03-Rise-in-September-1691038/&media=https://www.econotimes.com/assets/images/econotimes/metaDefault.png&description="UK Retail Sales Defy Expectations with 0.3% Rise in September" - EconoTimes)
In September 2024, UK retail sales unexpectedly rose by 0.3% from the previous month, contrary to market predictions of a 0.3% decline, according to the Office for National Statistics.
Overall Performance: Following a 1.0% increase in August, the 0.3% rise indicates that consumer spending remains resilient despite economic challenges.
Core Retail Sales: When excluding automotive fuel, core retail sales also increased by 0.3%, continuing the trend from earlier months.
Annual Growth: Retail sales grew by 3.9% year-on-year, a notable improvement from the previous month’s 2.3% increase.
Sector Performance: Food sales performed robustly, with major retailers like Tesco raising their profit forecasts and showing optimism for the upcoming holiday season. However, consumers still exercised caution regarding non-essential spending.
GBPUSD gained momentum after upbeat UK retail sales. Major resistance - 1.310
Trend reversal level- 1.3150
Support- 1.300,1.2960
Major weakness only below 1.2960
