UK February retail sales data now out 22 March

  • -0.2% prev revised down from +0.1%
  • yy 1.5% vs 1.4% exp vs 1.5% prev revised down from 1.6%
  • ex autos,fuel mm 0.6% vs 0.4% exp vs -0.2% revised down from +0.1%
  • yy 1.1% vs 1.2% exp vs 1.3% prev revised down from 1.5%

Better headlines but softer revisions make it a mixed report. MM positive but YY not so great.

GBPUSD fails round 1.4180 again but not retreating too far with BOE expected to produce hawkish tones later. EURGBP holding 0.8700 too for the moment.

Says the ONS:

  • In February 2018, the quantity bought in retail sales increased by 0.8% when compared with the previous month, with increases seen across all main sectors except non-food stores.
  • The monthly increase to the quantity bought follows two monthly declines in December and January, resulting in an overall decrease of 0.4% in the three months to February.
  • Internet sales saw an increase in its proportion of all seasonally adjusted retailing in February when compared with January, accounting for 17.2% of all retail; this continues the general upward trend in money spent online as the proportion of online spending in February 2017 was at 15.6%.

Full report here