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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 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.
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.
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