UK: Expect flat official retail sales volumes during October - Nomura

Sandeep Kanihama FXStreet Contributor

After a string of three consecutive monthly rises in retail sales volumes between June and August, sales fell in the month of September taking the annual rate to 1.5% – its second-lowest print since mid-2013, points out the research team at Nomura.

Key Quotes

“Survey evidence for October has been weak thus far. The CBI distributive trades balance turned markedly negative during the month, as did the BRC’s like-for-like measure of retail sales growth. We expect flat official retail sales volumes during October due to the offsetting impact of weak survey evidence, but we also see a risk of a bounce from September’s decline.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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