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MNI DATA PREVIEW: UK Retail Sales July 2019

     LONDON (MNI) - UK DATA: UK Retail Sales (Jul 2019) Preview - 09:30 BST
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- BBG: -0.2%m/m; 2.5%y/y; MNI: -0.2%m/m, 2.6%y/y; Prev (Jun): 1.0%m/m, 3.8%y/y
- Ex. Fuel: BBG and MNI: -0.2% m/m, 2.3% y/y; Prev (Jun): 0.9% m/m, 3.6% y/y 
- Mkts look for a marginal decline in retail sales in July after June's rebound
- Jun's 1.0% rise was driven by m/m gains across all major retail sectors except
for "non-specialized stores" (department stores)... 
-...and "other store" (charity shops) sales showing the steepest increase 
- Fwd-looking survey evidence provides mixed signals...
-...with the VISA spending survey showing decreasing expenditure in July,
marking the tenth successive month of decline...
-...while a marginal rise of 0.3% in sales was reported by the BRC-KPMG survey
- Consumer confidence edged up 2 pts to -11 in July, but remains weak overall 
- Household consumption continues to contribute positively to economic growth,
pointing to a resilience of consumer spending despite persisting uncertainties
such as Brexit 
--MNI London Bureau; +44 0203 865 3814; email: irene.prihoda@marketnews.com
[TOPICS: MABPR$,M$B$$$,M$E$$$]

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