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UK retail sales drop not so steep

New figures showed that British retail sales fell by less than expected in October. Separate data showed that the country's public finances showed their first deficit for the month since 1994.

The Office for National Statistics said sales fell 0.1% last month, leaving them 1.9% higher on the year. That compared to analysts' forecasts for a monthly fall of 0.9%.

Separately, the ONS said the public sector posted a net cash repayment of £4.9 billion last month. But the British government's preferred measure of the public finances showed its first deficit for an October since 1994, with public sector net debt coming in at £1.38 billion.