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.
“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.