Footfall believes the results showed an extremely close correlation between the retail sales volume figures for month-on-month and year-on-year after seasonal adjustments had been made. The FootFall sales volume indicator figures for September, for example, showed a 4.8% increase on the same month the previous year, only 0.2% higher than the ONS data at 4.6%.

This economic indicator is vital to retailers and retail analysts when considering the performance of retailers and analysing the state of the market. John Gallagher, managing director of FootFall, said: 'The key difference between our sales volume indicator and the ONS figures is that it is available within three days of the end of the month making it the fastest tool of its kind.

'Sales volume information is of vital importance to retailers and retail analysts and having access to it sooner will enable retailers to see the issues of the previous month and react immediately.'