LONDON - The number of new cars sold in Britain in October fell by nearly a quarter compared to the same period a year ago, the biggest decline since 1991, new data showed Thursday.

The figures are the latest gloomy economic indicator in Britain, with official data last month showing the country's economy contracted by more than expected.

Britain's central bank also cut interest rates by 1.5 percentage points on Thursday, on the back of the poor economic news.

According to the figures from the Society of Motor Manufacturers and Traders (SMMT), there were a total of 128,352 new car registrations last month, a 23 percent fall from October 2007.

That is the worst year-on-year decline since June 1991.

"October has proved another difficult month for the UK motor industry and action is needed to help restore consumer confidence and encourage buyers back to the showrooms," SMMT chief executive Paul Everitt said.

The SMMT also revised down its expected sales figures for both 2008 and 2009, with sales next year dropping below the two million mark for the first time since 1995.

Thus far, 1.92 million cars have been sold in Britain in 2008, an 8.7 percent decline compared to the first nine months of 2007.

The new figures represent a major decline in the automotive sales market in Britain - in 2003, annual sales totalled 2.58 million.