July 2016 UK retail sales 1.4% vs 0.2% exp m/m
Details of the July 2016 UK retail sales data report 18 August 2016
- Prior -0.9%
- 5.9% vs 4.2% exp y/y. Prior 4.3%
- Ex-fuel 1.5% vs 0.4% exp m/m. Prior -0.9%
- 5.4% vs 3.9% exp y/y. Prior 3.9%
Take that Brexit.
Good weather (we don't say that often in a UK related post) and a jump in tourist spending (thank you Mrs Pound) helped sales jump.
I'm the first to trumpet good news but I know that retail sales can be quite volatile and so I'm not going to get carried away. The report is good and the y/y numbers are the most impressive. If anything this report highlights that while Brexit may still hurt the economy, the everyday lives of UK citizens isn't going to change that much unless we start seeing big job losses.
UK retail sales details
UK retail sales ex-fuel y/y
Cable is off away with the fairies and up 100 pips to 1.3159 since the release.