UK CBI retail trades sales October 2017 -36 vs 15 exp

UK CBI retail trades sales October 2017

Prior 42
Total distributive trade sales 1 vs 44 prior
3m sales -1 vs 18 prior
Orders on suppliers -43 vs 12 prior
Sales for time of year -6 vs 13 prior
Expected sales 3 vs 23 prior
Expected orders -11 vs 7 prior

A stinky looking report. The last time the numbers fell this bad was when the UK was in recession in 2009.

CBI say;

“It’s clear that retailers are beginning to feel the pinch from higher inflation. While retail slaes can be volatile from month to month, the steep drop in sales in October echoes other recent data pointing to a marked softening in consumer deand”

That’s more rock and more hard place for the BOE to find themselves between when considering their next monetary policy move.