Here’s last month’s and the expected August 2017 retail sales numbers
- Sales 0.2% exp vs 0.3% prior m/m
- 1.1% exp vs 1.3% prior y/y
- Sales ex-fuel 0.2% exp vs 0.5% prior m/m
- 1.4% exp vs 1.5% prior y/y
Retail sales can be a bit of a wild horse at the best of times. The recent year on year numbers have been disappointing, so that’s a trend the BOE will want to see reverse.
Of course, keep a beady eye on cable over the minutes from 08.20 to 08.30 as we’ll see if there’s any suspicious moves ahead of the numbers that could indicate which way the data will go.