UK April retail sales -2.3% vs -0.4% m/m expected
Prior 0.0%; revised to -0.2%Retail sales -2.7% vs -0.2% y/y expectedPrior +0.8%; revised to +0.4%Retail sales (ex autos, fuel) -2.0% vs -0.6% m/m expectedPrior -0.3%; revised to -0.6%Retail sales (ex autos, fuel) -3.0% vs -1.1% y/y expectedPrior +0.4%; revised to 0.0%What an absolute stinker. Retail sales volumes fell by 2.3% on the month, after having been relatively flat in the two months before. Looking at the breakdown:Non-food stores sales volumes dropped by 4.1% as a whole in April, which marks the joint-largest drop (alongside December 2023) since January 2021.This isn't of much comfort to the BOE, after the hotter inflation numbers earlier this week. If anything, it shows that inflation pressures are continuing to bite at the average UK consumer. This article was written by Justin Low at www.forexlive.com.
- Prior 0.0%; revised to -0.2%
- Retail sales -2.7% vs -0.2% y/y expected
- Prior +0.8%; revised to +0.4%
- Retail sales (ex autos, fuel) -2.0% vs -0.6% m/m expected
- Prior -0.3%; revised to -0.6%
- Retail sales (ex autos, fuel) -3.0% vs -1.1% y/y expected
- Prior +0.4%; revised to 0.0%
What an absolute stinker. Retail sales volumes fell by 2.3% on the month, after having been relatively flat in the two months before. Looking at the breakdown:
Non-food stores sales volumes dropped by 4.1% as a whole in April, which marks the joint-largest drop (alongside December 2023) since January 2021.
This isn't of much comfort to the BOE, after the hotter inflation numbers earlier this week. If anything, it shows that inflation pressures are continuing to bite at the average UK consumer. This article was written by Justin Low at www.forexlive.com.
