High Street sales rise on heavy discounting
Consumer spending rose last month to its highest level since April as retailers instituted sharp discounts.
This is according to new figures from the British Retail Consortium and KPMG, which suggest that total sales were up 0.6 per cent when compared with the same month last year.
But the 12-month average growth rate remains at just 0.1 per cent - the lowest on record.
According to the BRC, the spike in sales in October was down to swingeing discounts offered on the High Street.
Helen Dickinson, chief executive of the BRC, said: “Retailers embarked on an extraordinary period of discounting this October as they tried to entice shoppers into making purchases. With Brexit still unresolved and a December election creating new uncertainties, retailers will be looking nervously at the months ahead.”