UK: Strong jump in March retail sales - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities note that the UK’s March Retail Sales jumped a strong 1.1% m/m, against market expectations of a decline.

Key Quotes

“Most categories showed strong gains, including food, clothing, and household goods (all 1%+). Today's figures put 19Q1 retail spending at 1.5% q/q, and suggests that GDP growth could well come in higher than the BoE's current expectation (with a sharp unwind likely next quarter).”

“It's interesting to note that the spending data through the recent heightened Brexit uncertainty (Mar-19: 6.7% y/y) closely mirrors that in the uncertain aftermath of the referendum in 2016 (Aug-16: 6.2% y/y).”

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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