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MNI UK DATA SURVEY: UK January Retail Sales

MNI (London)
Repeats Story Initially Transmitted at 12:10 GMT Feb 12/07:10 EST Feb 12
By Jamie Satchithanantham
     LONDON (MNI) - Analysts foresee UK sales volumes back in the black, up
+0.5% m/m on a total basis and +0.4% m/m on a ex-fuel basis -- sales were up a
strong +1.0% m/m in November, followed by a -1.5% m/m slide in sales in
December. 
     The range of forecasts was pretty sizeable, however. Estimates for total
retail sales volumes growth (m/m) cam in as high as +0.9% m/m and as low as
-0.6% m/m. 
     With the forecasting chaos generated by Black Friday, Cyber Monday and
other seasonal promotions that the UK's Office for National Statistics has found
difficult to adjust its data for, it may be better to look at the cumulative
Nov-Jan period when making a comparison to the performance in other years.
--------------------------------------------------------------------------
                             Jan           Jan           Jan           Jan
                    Retail Sales  Retail Sales  Retail Sales  Retail Sales
                    Incl. Petrol  Incl. Petrol  Excl. Petrol  Excl. Petrol
                           % MoM         % YoY         % MoM         % YoY
Date Out                  16-Feb        16-Feb        16-Feb        16-Feb
Median                       0.5           2.4           0.4           2.3
Forecast High                0.9           2.7           0.9           2.9
Forecast Low                -0.6           1.4          -0.4           2.0
Standard Deviation           0.5           0.5           0.4           0.4
Count                          9             6             6             4
Prior                       -1.5           1.4          -1.6           1.3
Barclays                    -0.6           1.4           N/A           N/A
Capital Economics            0.5           2.5           N/A           N/A
Credit Suisse                N/A           N/A           0.3           N/A
Commerzbank                  0.3           N/A           N/A           N/A
Investec                     0.3           2.3           0.4           2.2
Lloyds TSB                   0.9           2.7           0.9           2.9
Natixis                      0.5           2.3           N/A           N/A
Nomura                       N/A           N/A           0.6           2.4
Oxford Economics             0.5           2.5           N/A           N/A
Pantheon                     0.6           N/A           N/A           N/A
Societe Generale             N/A           N/A           0.2           2.0
UniCredit                   -0.5           N/A          -0.4           N/A
--MNI London Bureau; +44 203-586-2226; email: jamie.satchithanantham@marketnews.com
[TOPICS: MTABLE]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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