UK retail sales December 2017 -1.5% vs -0.6% exp m/m

by | January 19th, 2018, 09:30:02 | Economic Data, UK

UK economics

December 2017 UK retail sales report 19 January 2018

  • Prior 1.1%
  • 1.4% vs 3.0% exp y/y. Prior 1.5%
  • Ex-fuel -1.6% vs -0.8% exp m/m. Prior 1.2%
  • 1.3% vs 3.0% exp y/y. Prior 1.5%
  • Sales deflator 3.1% vs 3.1% prior y/y

Bigger than expected miss sees the pound fall to 1.3904. I’m going to fade this with a small long here.

ONS notes;

  • Biggest fall in m/m Retail sales since July 2016
  • Weakest Retail Sales growth in December since 2010 which saw a drop of 2%
  • Quarterly spending grew by 0.4% although this is the weakest quarterly growth since Q1 2017 which saw a decline of 1.2%
  • In non seasonally adjusted terms Christmas spending has shifted from December to November due to Black Friday promotions
  • Internet sales accounted for 18% of all sales in December compared to 19.8% in Nov and 17.1% the previous year

That data was also out some seconds before 9.30 too.

 

Ryan Littlestone
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