November 2017 Uk retail sales report 14 December 2017
- Prior 0.3%
- 1.6% vs 0.3% exp y/y. Prior -0.3%
- Ex-fuel 1.2% vs 0.5% exp m/m. prior 0.1%
- 1.5% vs 0.4% exp y/y. prior -0.3%
From the ONS;
- 3M/3M Retail sales solid with growth of 0.8%
- Quantity bought increased by 1.6% y/y; amount spent grew by 4.7% y/y
- Good Friday activity led the strong rise in household goods stores
- Total average store prices rose 1.3% versus a year-ago
- Food stores saw largest price gains of 3.6% since Sep 2013
- Cyber Monday sales not included in this data
- Seasonally adjusted data may not fully account for longer Black Friday period
- Household goods stores reported a boost from Black Friday promotions
- Underlying trend remains reasonably strong
As I tweeted just before the numbers, a much stronger print than expected. GBPUSD managed a 22 pip gain to a new high of 1.3464. The comment on the SA data could mean there’s more to add to the Dec sales but be mindful that the Black Friday sales was a big one off event so I’d be watching for softer numbers next month.
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