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 retail sales surged in August, with the CBI balance index jumping to +60% from +23% in July, the fastest pace of growth since December 2014. "A ramping up in retail sales growth in the year to August shows just how much consumer demand continues to spur economic recovery," said Alpesh Paleja, CBI lead economist.
Growth in retail orders expanded at a record pace, hitting a balance of +68% from +49% in July, although orders growth is expected to slow moderately from August's red-hot pace, according to the CBI. Average selling prices rose by the highest rate since late 2017, rising to +75% from +53% in May, with retailers looking for prices to increase even more rapidly next month (+75%).
Meanwhile, supply bottlenecks are beginning to bite. Stock levels in relation to expected sales dipped to a fifth-straight record low of -21% in August from -17% a month earlier. Retailers are also reporting difficulties in recruiting staff, with employment down for the 19th-consecutive quarter in the year to August, although the pace of employment slowing to -13% from -37% in the year to May.
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.