UK: Strong retail sales data – TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities point out that the UK’s retail sales rebounded strongly in January at 1.0% m/m, well above market expectations for a small gain.

Key Quotes

“Components were mixed, with clothing and non-store retailing showing strong gains, while non-specialised stores and household goods stores fell sharply. Volatility in seasonal factors suggests looking through the individual monthly Nov/Dec/Jan gains, and from that vantage point, average retail sales growth was 0.5% m/m over that period - a healthy rate.”

“Today's data confirms continuation of a theme we've seen over the past couple of years: that the consumer continues to be unaffected by Brexit uncertainty, while firms are cutting back on their investments.”

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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