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October 2016 UK retail sales 1.9% vs 0.4% exp m/m

Details of the October 2016 UK retail sales data report 17 November 2016

  • Prior 0.0%. Revised to 0.1%

  • 7.4% vs 5.3% exp y/y. Prior 4.1%. Revised to 4.2%
  • Ex-fuel 2.0% vs 0.4% exp m/m. Prior 0.0%. Revised to 0.1%
  • 7.6% vs 5.4% exp y/y. Prior 4.0%

Wow. That's some good looking numbers there. Folks weren't scared to hit the shops as the ONS says that there's anecdotal evidence that strong Halloween sales helped supermarkets. There's the usual guff about colder weather helping clothing sales but from what I remember (down south at least), we had a pretty mild October).

The usual caveat applies with retail sales in that they can be volatile. The pound was already on its way higher before the numbers and struggling at 1.2500 (just breaking as I type) so the good news looks already baked in.

Whatever I may say about the volatility in retail data, the most important factor is what the overall trend is like. In this case sales are looking very strong and that's a good sign for the consumer and the BOE.

UK retail sales ex-fuel y/y

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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