UK DATA: Aug Retail Sales -0.2% m/m; unch. y/y; median -0.1% m/m;0.0 y/y
–Aug Retail Sales ex fuel -0.1% m/m; -0.1% y/y;median unch. m/m;-0.1 yy
————————————————————————
Retail sales volumes fell on the month in August as consumers
continued to be squeezed by higher prices on the High Street and
declines in their real incomes. Volumes including auto fuel fell 0.2%
m/m and were flat on the year, the lowest annual outturn since Dec
2010. Analysts had expected to see a slightly smaller fall on the month
of 0.1% and flat sales on the year. Ex auto-fuel sales were down 0.1%
m/m by 0.1% y/y. National Statistics said that they were unable to
quantify the impact of the riots. A spokesperson said that while there
was anecdotal evidence that sales at some stores had been hit, there was
also evidence from some stores that they had benefited from other stores
closing early.