Retail sales in the U.K. rose by a record 17.4% in Q3. Retail sales in September rose for the fifth straight month and were up by 4.7%
- Online sales represented 27.5% of total sales in September, up from February's pre-pandemic percentage of 20.1%. Amazon announced it is planning to hire 7,000 new permanent employees to help manage the surge in demand.
- September's total sales were 5.5% more than February's total, though chief U.K. economist Samuel Tombs said that the month's totals are likely the peak for the year.
- It is expected that more furloughs and layoffs will occur as the U.K. battles a second wave of COVID-19 and new restrictions are imposed. A Bank of America survey revealed consumer confidence had fallen to an all-time low.
- Retailers have been encouraging consumers to shop online and make purchases earlier than usual ahead of the Christmas season.
- Earlier this month, the U.S revealed retail sales were up by 1.9%, the largest single-month gain since June. September also marked the fifth straight month of increasing sales in the U.S.