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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 retail sales data for April was slightly stronger than anticipated. Sales rose +0.5% m/m including fuel and by +0.8% m/m when excluding fuel, beating consensus expectations of +0.3% and +0.4% growth.
- Non-food sales grew by +1.0% m/m in April, partly rebounding from -1.8% m/m in March, where wet weather conditions saw reduced demand.
- Food sales increased +0.8% m/m in April, yet remain weak (-2.7% compared to Feb 2020) due to persistently high food inflation.
- Downwards pressure came from fuel sales in April (-2.2% m/m).
- On a trend basis, 3m/3m sales rose +0.8%, the strongest since August 2021 (+1.3%), implying that the retail sector is showing early signs of recovery (despite remaining -0.8% below pre-pandemic levels). Downwards revisions to March data implied a smaller positive contribution to Q1 GDP of +0.02% (+0.03% previously).
- The May consumer sentiment indicator posted a fourth consecutive improvement, albeit remains firmly in pessimistic territory, implying upticks in spending will remain modest for now.
Source: ONS
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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