UK DATA: Sep Retail Sales +0.6% m/m; +0.6% y/y; median 0.0% m/m;0.7% y/y
–Sep Retail Sales ex fuel +0.7% m/m; +0.4% y/y;median+0.2% m/m;+0.6% yy
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Retail sales volumes rose unexpectedly on the month in September,
boosted by sales of computers and video games. Retail sales volumes
including auto fuel rose 0.6% on the month in September to stand 0.6%
above levels a year earlier. Analysts had expected to see no growth in
sales on the month, although had been expecting a stronger rise of 0.7%
on the year. There were some downward revisions to previous data, with
August sales now estimated to have fallen 0.4% on the month compared
with the previously stated 0.2% decline. July volume growth is now see
as flat against the original +0.2% rise on the month. In spite of the
more buoyant than expected sales figures for September, consumers face a
tough outlook as they battle with falling real incomes.