UK Retail Sales jump 0.6% MoM in October vs. 0% expected
|- The UK Retail Sales came in at 0.6% MoM in October, a big beat.
- Core Retail Sales for the UK rose by 0.3% MoM in October.
- The cable keeps its range at around 1.1900 on the mixed UK data.
The UK retail sales arrived at 0.6% over the month in October vs. 0% expected and -1.5% previous. The core retail sales, stripping the auto motor fuel sales, rose 0.3% MoM vs. 0.6% expected and -1.5% previous.
On an annualized basis, the UK retail sales plunged 6.1% in October versus -6.5% expected and -6.8% prior while the core retail sales tumbled 6.7% in the reported month versus -6.7% expectations and -6.1% previous.
Main points (via ONS)
Non-food stores sales volumes rose by 1.1% in October 2022 and were 1.7% below February 2020 levels.
Automotive fuel sales volumes rose by 3.3% in October 2022, following a fall of 1.2% in September; these were 6.9% below their February 2020 levels.
Non-store retailing (predominantly online retailers) sales volumes rose by 1.8% in October 2022 following a fall of 2.5% in September; sales volumes were 21.2% above their February 2020 levels
FX implications
GBP/USD is unfazed by the mixed UK Retail Sales data. The spot was last seen trading at 1.1901, up 0.36% on the day.
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