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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 CBI volume of sales reported rose +8% (vs -44% prior, -19% expected) - the fastest pace of growth since December 2022, according to the latest CBI Distributive Trades Survey.
- However, retailers expect volume of retail sales to fall moderately next month by 4% (vs expectations of -19% this month).
- CBI Lead Economist states "Falling inflation, and continuing real wage growth will contribute to a healthier consumer outlook, in turn supporting the retail sector further...That being said, retailers are restrained about their business situation over the coming quarter. Headlines sales are expected to fall moderately next month, and it’s concerning that retailers’ investment intentions have deteriorated noticeably. "
- Also of note selling price inflation eased considerably (+20% vs +54% in February), now at its lowest since August 2020.
- This CBI reading follows the Official ONS retail sales disappointing for April 2024 at -2.3% M/M (vs -0.5% M/M forecast).
- The survey includes 137 respondents, of which 56 were retailers, conducted between 26 April and 15 May.
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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