UK: Retail sales to post +0.2% m/m gain in March - TDS

Analysts at TDS are looking for UK retail sales to hold up a bit better than consensus with a +0.2% m/m gain in March, while markets look for a similar-sized decline.

Key Quotes

“Leading indicators are mixed, with upside coming from the recent strength in the services PMI, steady gains in house prices, and higher than average temperatures, while on the downside we’ve seen poor sales results from John Lewis and the strength in inflation should weigh on retail volumes. On balance though we look for sales to post their first back-to-back gain since July-Aug last year.”