CBI Distributive Trades (Oct 2019) .........>

UK DATA: CBI Distributive Trades (Oct 2019) 

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- Reported Sales Volume: -10%; Prev(Sep): -16%

- Expected Sales Volume (Oct): +1%; Prev(Sep): -5%

- Reported Orders Volume: -4%; Prev(Sep): -9%

- Expected Orders Volume (Oct): -22%; Prev(Sep): +3%

- Retail sales volume registered a sixth consecutive negative reading in the

year to Oct, which is the longest period of decline since the financial crisis.

- However, sales volumes fell at a slower pace in Oct than in Sep, beating

market forecasts (BBG: -20)

- While orders placed upon suppliers cooled further in the year to Oct,

retailers expect orders to slump to -22 in Nov

- The report notes that retailers' stocks in relation to expected sales reached

their highest in the history of the survey (since 1983). 

- There was anecdotal evidence that firms stocked up earlier this year because

of the expected proximity of Christmas and Brexit.