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Free AccessUK Preliminary Data Forecasts: July UK Retail Sales Data
By Jamie Satchithanantham
LONDON (MNI) - UK retail sales grew by 0.6% m/m in June, aided by the
month's warm weather, which meant on the quarter sales volumes were up 1.5%,
having fell 1.4% in the first quarter of the year.
Between May and June, household good stores recorded strong growth in
sales, up 3.3% m/m, offsetting the 0.5% m/m drop in food sales.
Compared to the same month a year ago, clothing sales volumes were up a
solid 6.2% y/y in June while non-store retailing items were up 17.6% y/y.
Analysts foresee growth in sales volumes moderating in July, with a median
forecast of 0.3% m/m pencilled in. Excluding fuel, month-on-month growth is
expected to come in flat.
On the year, growth looks destined to come in under the level set a month
ago, with all 4 analysts who cast a forecast expecting an outturn well below the
2.9% y/y recorded in June. The MNI median for year-over-year growth is 1.4%.
------------------------------------------------------------
Jul Jul Jul
Retail Sales Retail Sales Retail Sales
Incl. Petrol Incl. Petrol Excl. Petrol
% M/M % Y/Y % M/M
Date Out 18-Aug 18-Aug 18-Aug
Median 0.3 1.4 0.0
Forecast High 0.8 2.0 0.3
Forecast Low 0.0 1.2 -0.3
Standard Deviation 0.3 0.4 0.3
Count 5 4 3
Prior 0.6 2.9 0.9
Capital Economics 0.8 2.0 N/A
Credit Suisse N/A N/A -0.3
Commerzbank 0.6 N/A N/A
Investec 0.3 1.5 0.3
Nomura N/A N/A 0.0
Oxford Economics 0.1 1.2 N/A
Scotia 0.0 1.3 N/A
This survey will be updated Monday August 14.
--MNI London Bureau; +44 203-586-2226; email: jamie.satchithanantham@marketnews.com
[TOPICS: MTABLE,MABDT$,M$B$$$,M$E$$$]
To read the full story
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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.