© Dukascopy
"These numbers [retail sales] are pretty good, though I doubt they're going to persist"
- George Buckley, an economist at Deutsche Bank AG
U.K. retail sales unexpectedly increased 0.6 per cent in October, compared to the previous month, despite faltering consumer confidence, said the Office for National Statistics on Thursday.
"These numbers are pretty good, though I doubt they're going to persist," said George Buckley, an economist at Deutsche Bank AG in London. "The bank will need to keep policy loose for a long period of time. There's a risk they do more QE before February."
"The retail sales figures were better than expected, although longer-term comparisons still point to a flat picture," said David Kern, chief economist at the British Chambers of Commerce.
"While the improvement in sales is welcome, the relentless squeeze on disposable incomes will put pressure on people's ability to spend in the next few quarters," he added.