UK May CBI retailing reported sales -27 vs 6 expected
Latest data released by CBI - 24 May 2019
- Prior 13
- Total distributive reported sales -20
- Prior 9
The readings here are an indicator of short-term trends in the retail and wholesale sector of the UK economy. Those are some poor figures and the details aren't any better either. Quarterly retail investment intentions fell to the weakest on record since the survey began in 1938 while retail sales balance for time of year was the lowest since March 2009.
It's not a focal point for the pound now but expect this to weigh on Q2 economic data, particularly after we saw the factory orders data earlier in the week.
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