UK: Upside surprise in February retail sales - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities point out that the UK’s retail sales surprised to the upside at +0.4% m/m in February (mkt: -0.4%).

Key Quotes

“Gains were generally broad-based across components, with food sales the one notable weak sector (-1.2% m/m); non-food sales were up 0.9%.”

“Today's report leaves the Q1 snapshot around 1.1% q/q (assuming no change in March), and reflects households' long-held determination to ignore Brexit-induced uncertainty when it comes to their spending patterns.”

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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