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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
UK Total Retail Sales value rate of increase fell to +1.7% Y/Y (vs +2.7% Y/Y prior) in December 2023. Similarly, Like-For-Like Sales value rate of appreciation slowed to +1.9% Y/Y (vs +2.6% Y/Y prior).
- Total Retail Sales is now below the 3-month average growth of +2.3% and the 12-month average growth of +3.6%.
- The main driver of the slowing in sales value growth is due to Non-food sales declining -1.5% over the three months to December - steeper than the 12-month average decline of -0.1%.
- Moreover, whilst Food Sales continue to increase at +6.8% to the three months to December, the rate continues to slow below the 12-month average of +8.1%.
- Chief Executive of the BRC warns, '2024 looks to be another challenging year... spending will continue to be constrained by high living costs..' and 'disruption to shipments from the Far East via the Red Sea' are expected to increase cost pressures.
- ONS retail sales value (ex-fuel) rose +5.7% Y/Y in November, a gain after the recent downtrend in data and a divergence away from BRC dataset.
- Data covers 26 November - 30 December 2023.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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