Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
UK retail sales decline for a 4th straight month and need sharp September recovery to help push GDP higher.
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
UK retail sales were lower again in August on a monthly level and recorded no growth on an annual reading, data released Friday showed, confirming industry warnings reported in MNI's latest Reality Check. Month-on-month, sales fell 0.9% on both a total and ex-fuel basis, and now need to show a hefty 12.4% m/m gain in September for retail sales to be a positive contributor to Q3 GDP -- and apart from the May/June period in 2020 as we reopened from the initial lockdowns, that level of m/m growth has not been seen since the current time series began in 1996.
Year-on-year, total sales were unchanged on year, with sales ex-fuel lower by 0.9% -- and both were revised lower in July, although both indices remain above pre-pandemic levels.
It is the first run of 4 consecutive on month declines since at least 1996, the Office for National Statistics said Friday.