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Excluding autos, retail sales were up 0.3 percent in October, the data showed. However, there was a 1.5 percent drop in receipts at gasoline retailers.
Retail sales account for about one-third of consumer spending, which in turn accounts for most economic activity. The better-than- expected retail sales showed a welcome sign as the holiday shopping season approaches.
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LONDON, Nov. 21 (Xinhua) -- British public sector net borrowing was 7.7 billion pounds (or 12 billion U.S. dollars) in October 2014, said Office for National Statistics (ONS) Friday.
The public deficit is in line with the market expectation consensus.
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At the end of October 2014, Britain's public sector net debt excluding public sector banks was 1,449.2 billion pounds, equivalent to 79.5 percent of gross domestic product (GDP) [url=http://www.teamcardinalsjerseys.com/Sam-Bradford-Jersey/]Sam Bradford Color Rush Jersey[/url] , data showed.
Samuel Tombs, senior British Economist at Capital Economics, said in a note that the latest UK public borrowing figures continue to show that the economic recovery is not bringing about the expected improvement in the public finances.
"This year's poor borrowing figures still limit the Chancellor's room for maneuver and undermine his argument that the public finances can be restored to a sustainable position," he said.
George Osborne, the Chancellor of Exchequer of Britain [url=http://www.teamcardinalsjerseys.com/Chandler-Jones-Jersey/]Chandler Jones Color Rush Jersey[/url] , will present the public fiscal forecasts in his Autumn statement on Dec. 3. (1 pound = 1.56 U.S. dollars)
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