Free Trial

Food Slump Eats Away at Retail Sales In.....>

UK DATA
UK DATA: Food Slump Eats Away at Retail Sales In September 
-UK Sep Total Retail Sales -0.8% m/m; +3.0% y/y; +1.2% 3m/3m
-UK Sep Retail Sales Ex-Fuel -0.8% m/m; +3.2% y/y; +1.4% 3m/3m
-UK Q3 Retail Sales +1.2% q/q; Will Add 0.06pp to Q3 GDP
-UK Sep Retail Sales Price Deflator 1.8% y/y; Joint-Lowest Since Dec 16
--------------------------------------------------------------------- 
Analysts continued to over-estimate September retail sales, which 
fell short of expectations, declining 0.8% m/m - the joint-lowest 
outturn since December. That means retail sales, 5.4% of UK output, will 
add 0.06pp to Q3 GDP. Food sales drove the decline in activity, 
declining 1.5% m/m, the sharpest fall since October 2015. This follows a 
strong Q2, boosted by temporary factors. Household goods sales continued 
to grow, up 10.6% y/y - the joint-largest since July 2015. Anecdotal 
evidence alluded to stronger discounting than typically seen.      

To read the full story

Close

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.