Free Trial
JGBS AUCTION

40-Year Supply Passes Smoothly

JGBS

40-Year Auction Results

AUD

Moderately Firmer, Respecting Ranges

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Queen's Funeral Adds to September Retail Contraction

UK DATA
MNI (London)

UK SEP RETAIL SALES -1.4% m/m (FCST -0.5%); AUG -1.7%r M/M

UK SEP RETAIL SALES -6.9% Y/Y (FCST -5.0%); AUG -5.6%r Y/Y

  • Retail sales volumes contracted again in September, falling by -1.4% m/m in a continuation of the downwards trend since Summer 2021. This was weaker than consensus forecasts.
  • This was 1.3% below pre-pandemic Feb 2020 levels and the second month running below Feb 2020 levels.
  • Both low spending appetite on the back of high inflation cutting into disposable income alongside the public holiday held for the Queen's funeral saw lower September sales.
  • Food sales fell 1.8%, non-food declined 0.6% and online retail fell 3.0%. The decline in food sales is partly due to the closure of supermarkets on the bank holiday.
  • Following this data, retail trade's contribution to Q3 GDP is now -0.1pp, a further slide from -0.06pp in Q2.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.