Retail sales volumes 0.3 mm v Reuters poll 0.3
New iPhone launch and tech spending help boost Sept sales
Joint biggest rise in Q3 sales volumes since mid2021
Shoppers still cautious ahead of budget
LONDON, Oct 18 Reuters British retail sales unexpectedly rose in September, according to official data published on Friday that contradicted signs that consumers were downbeat about possible tax rises ahead of the new government39;s first budget later this month.
Sales volumes increased by 0.3 in September, beating economists39; expectations for a monthly 0.3 fall.
Combined with stronger gains in July and August, sales rose by 1.9 rise in the third quarter, the joint largest increase since mid2021.
Telecoms and computers were the main drivers of nonfood sales, with the sector jumping by almost 35 in monthly terms in September, the Office for National Statistics said.
Last month, Apple unveiled an artificial intelligence focusediPhone 16 lineup as well as a sleeker Apple Watch and new AirPods.
Septembers rise … suggests that while households may be concerned about possible tax rises in the Budget on Oct. 30, those fears are not feeding through to their spending decisions yet, said Alex Curr, UK economist at Capital Economics.
Sterling rose by a third of a cent against the U.S. dollar after the data was published.
Finance minister Rachel Reeves will set out her first plan for tax and spending at the end of October.
The new Labour government39;s warnings about the…