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.
Retail sales grew only modestly in September, according to the CBI, raising serious questions about the strength consumer spending in the third quarter. The CBI's sales index declined to +11% from +60% in August, although retailers expected a modest acceleration in October, with the expectation index stretching to +29%.
"Demand cooled for retailers in the year to September after running red hot over the summer, pushing sales below seasonal norms for the first time since March," said Ben Jones, CBI principal economist.
The soft sales data follow two consecutive declines in official retail sales volumes in July and August, according to official numbers released by the ONS. Order growth also slowed, with the CBI index declining to +20% from +68% in August, although retailers expect an uptick next month, with the next rising to +24%. Stock levels were regarded as "too low" for the first straight month, although the CBI index improved to -11% from -20% in August.
Source: CBI
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.