ONS
- Prior 1.4%; revised to 1.3 %
- Retail sales 3.0% vs 3.6% y/y expected
- Prior +3.6%; revised to 3.4%
- Retail sales (ex autos, fuel) -1.3% vs -0.6% m/m expected
- Prior 1.2% revised to 1.0%
- Retail sales (ex autos, fuel) 2.6% vs 3.8%% y/y expected
- Prior +3.8% , revised to 3.5%
Brexit will continue to dominate for the near term and a headline about Farage predicting 2nd referendum may have stolen the thunder from these weak UK retail sales reads. Sales have been slow in the UK with many sales continuing right through the Christmas period. It was a shame going through the shops seeing the bargains to be had. UK retailers are struggling. I blame the ability to price compare - it means for many retailers they are on a race to the bottom, with the most desperate leading the way / fall.
