Latest data released by ONS - 19 June 2020
- Prior -18.1%; revised to -18.0%
- Retail sales -13.1% vs -16.4% y/y expected
- Prior -22.6%; revised to -22.7%
- Retail sales (ex autos, fuel) +10.2% vs +4.1% m/m expected
- Prior -15.2%; revised to -15.0%
- Retail sales (ex autos, fuel) -9.8% vs -14.9% y/y expected
- Prior -18.4%; revised to -18.5%
Slight delay in the release by the source. The rebound in retail sales activity is on the higher side of economist estimates and that can be taken as a positive signal. But the bounce is to be expected considering we are comparing to April conditions.
But when you look at things as a whole, activity is still way more subdued compared to the previous year and the question now is whether or not there will be any more significant pick up to help with the economy over the next few months.
Not much change in the pound on the release as cable holds around 1.2443 currently.
