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.

Ryan Littlestone

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