Growth in retail sales across Great Britain has slowed, as consumers snapped up technology but cut back on supermarket spending.
Sales volumes grew by 0.3% in September, data from the Office for National Statistics shows, down from 1% growth in August.
It is stronger than expected – City economists had predicted a 0.3% fall for the month.
Computer and telecommunication retailers had strong growth in the month but it was partly offset by decreases in food sales.
The ONS said: "The strongest subsector growth was from other non-food stores, which rose by 5.5% over the month to September 2024. Within 'other non-food', computer and telecommunications retailers had the strongest contribution to growth."
Non-food stores sales volumes – the total of department, clothing, household and other non-food stores – rose by 2.5% in September, after a rise of 0.6% in August.
On an annual basis, retail sales volumes rose by 3.9% in September.
That is the largest annual rise since February 2022.
Deloitte has reported that confidence among UK consumers has reached its highest in more than five years – despite the apparent gloom about this month’s budget. Its latest consumer tracker has found that people are more upbeat about children’s education and welfare, after the introduction of the government’s extended offer of free childcare.
However, the poll also found that consumers are less confident about the state of the economy in the run-up to the autumn budget.
UK companies are cutting back on hiring because of economic uncertainty, data shows.
TheRecruitment & Employment Confederationhas reported that the number of job vacancy adverts dropped below 1.6m last month, for the first time in two years.
The REC said the number of overall active job postings fell by 10% between August and September, to 1,544,753.
The agenda • Today: the chancellor, Rachel Reeves, holds talks with the bosses of major City firms • 9.30am BST: UK insolvency statistics for September • 1.30pm BST: US building permit and housing starts data for September
The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Newsletters may contain info about charities, online ads, and content funded by outside parties
Every small business owner has a lot on their plate— from navigating a whirlwind of tasks to tackling challenges left and right. In their pursuit of success, they’re looking for ways to help save time and resources without sacrificing sales and security.
Keep the wins coming with PayPal by your side. As a business owner, you can do more with PayPal’s comprehensive solution: offer your customers their most loved payment methods in one solution; secure and protected with built-in security tools; it's easy to get started. By consolidating all your payments with PayPal, you can focus on your next business victory.
You are receiving this email because you are a subscriber to Business Today. Guardian News & Media Limited - a member of Guardian Media Group PLC. Registered Office: Kings Place, 90 York Way, London, N1 9GU. Registered in England No. 908396