- The UK Retail Sales came in at 1.2% MoM in October.
- Core Retail Sales for the UK rose by 1.3% MoM in October.
- The cable remains capped below 1.33 on upbeat UK Retail Sales.
The UK retail sales came in at 1.2% over the month in October vs. 0% expected and 1.5% previous. The core retail sales, stripping the auto motor fuel sales, stood at 1.3% MoM vs. 0.1% expected and 1.6% previous.
On an annualized basis, the UK retail sales jumped by 5.8% in October versus 4.2% expected and 4.7% prior while the core retail sales increased by 7.8% in the reported month versus 5.9% expectations and 6.4% previous.
Main points (via ONS)
“In October 2020, retail sales volumes increased by 1.2% when compared with September; the sixth consecutive month of growth in the industry.“
“Growth in the volume of sales for non-store retailing at 6.4%, household goods stores at 3.2% and department stores at 3.1%.”
“Consumers started Christmas shopping earlier this year, also seeing early discounting from a range of stores.”
GBP/USD holds the higher ground, as the pound cheers the upbeat UK macro news. The spot now trades +0.16% on the day, flirting with daily highs of 1.3288.
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