UK October retail sales +0.6% vs +0.3% m/m expected

• Prior -1.4%; revised to -1.5%
• Retail sales -6.1% vs -6.5% y/y expected
• Prior -6.9%; revised to -6.8%
• Retail sales ex fuel %+0.3 vs +0.6% m/m expected
• Prior -1.5%
• Retail sales ex fuel -6.7% vs -6.9% y/y expected
• Prior -6.2%; revised to -6.1%

A slight bump higher in UK retail sales in October but there is a caveat to the monthly increase. Keep in mind that in September, businesses were also affected by the bank holiday amid the funeral for Queen Elizabeth II.

Looking at the details, non-food stores sales volumes rose by 1.1%, automotive fuel sales volumes rose by 3.3%, and non-store retailing sales volumes rose by 1.8% on the month. Meanwhile, food stores sales volumes fell by 1.0% and was the only drag in October.

/GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth Read this Term