UK Oct retail sales: Expect a muted 0.3% m/m rise - HSBC

Dhwani Mehta FXStreet

Analysts at HSBC Bank offer a brief preview of Wednesday’s UK retail sales report that will drop in at 0930 GMT.

Key Quotes:

“UK retail sales volumes fell back by 0.8% m-o-m in September after a bumper summer. Indeed, we had expected that momentum to prove unsustainable.

Despite a pick-up in real wage growth, consumer confidence remains relatively low and the housing market is weak in some parts of the country.

For October, we expect a muted 0.3% m-o-m rise for total volumes including fuel, which would mean that the 3m/3m rate had slowed from 2.3% in July to 0.5% in October.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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