Details of the September 2016 UK retail sales data report 20 October 2016

  • Prior -0.2%. Revised to 0.0%
  • 4.1% vs 4.8% exp y/y. Prior 6.2%. Revised to 6.6%
  • Ex-fuel 0.0% vs 0.4% exp m/m. Prior -0.3%. Revised to -0.1%
  • 4.0% vs 4.5% exp y/y. Prior 5.9%. Revised to 6.2%

Worse than expected all round but no minus figures. As I mention last month, we've come off the back of two strong reports following the vote and sales are still holding up, albeit not as strong.

The ONS point out that sales were hit by the good weather which reduced demand for warmer clothes for the Autumn and Winter.

UK retail sales ex-fuel y/y

The quid had a little wobble but is pretty much back where it started.