Sign of slowing economy as budget and weather meant surprise fall in retail sales

Budget fears and unseasonably warm weather meant consumers spent far less than expected last month, according to official figures.

In a sign of a slowing economy, retail sales fell a sharp 0.7%, the Office for National Statistics (ONS) said.

A drop of 0.3% was forecasted by economists polled by the Reuters news agency.

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The main fall off in buying was in clothing stores, which fell by 3.1% over the month as October temperatures remained high.

Just a month earlier, in September, spending rose 0.1%.

Retail sales figures are significant as household consumption measured by the data is the largest expenditure across the UK economy.

The data can also help track how consumers feel about their financial position and the economy more broadly.

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