MNI DATA ANALYSIS: UK Oct Like-Like Retail Sales Fall 1%: BRC

--Oct Like-for-Like Retail Sales -1.0% Y/Y, Total Sales +0.2% Y/Y 

By David Robinson

     LONDON (MNI) - October UK retail sales values fell sharply on the year ago

period, the latest British Retail Consortium data showed.

     October sales on a like-for-like basis fell 1.0% compared to October 2016,

when they saw a 1.7% rise on October 2015. Total sales were up 0.2% on the year

in October, again hit by base effects.

     The BRC noted that October saw the weakest yearly sales growth since May,

with non-food sales soft. Over the three-months through October, non-Food retail

sales fell 0.4% on a like-for-like basis and increased just 0.1% on a total

basis.

     In contrast, in the three months through October food sales increased 2.4%

on a like-for-like basis and 3.7% on a total basis.

     The BRC data, with the soft non-food sales, are consistent with UK

consumers cutting back on discretionary spending, having seen their real incomes

squeezed.

     Monthly sales outturns, however, are very volatile, as they are impacted by

the weather, base effects and the timing of discounting.

     The most recent official data, for September, showed sales volumes fell

0.8% compared with August, driven down by a fall in non-food store sales

volumes.  Year on year, retail sales volumes were up 1.2%.

--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com

[TOPICS: MABDS$,M$B$$$,M$E$$$]