UK: Retail sales expected to dip 0.5% MoM in March - Nomura

The research team at Nomura explains that the latest BRC survey showed UK retail sales growth in real terms at its lowest rate for four years and Nomura expects this more marked slowdown to show up in the official data in the months ahead with March numbers at around -0.5% m-o-m and 3.8% y-o-y.

Key Quotes

“Official sales volumes have been volatile over the past six months, with monthly growth alternating between rates of close to zero and between 12% (both positive and negative). A better way to look at this jumpy series is to consider the annual rate on a quarterly basis, which currently stands at 3.7% (its lowest for almost a year). Sterling depreciation and the associated rise in inflation are undermining real wage growth which, in turn, appears to be negatively impacting spending.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.