Retail Sales (MoM) (UK)
Surprising Bearish Turnaround for UK Retail Sales
Starts Saturday, August 18, 2018 at 16:03
Updated Thursday, August 16, 2018
Retail sales have been growing strongly in May and June which improved the sentiment regarding the UK economy. But they made a bearish turnaround last month declining by 0.5%. Although, this month retail sales are expected to increase by 0.2%. But, don't be surprised to see another negative number this month after the miss in average earnings earlier this week. Also, I don't see a sustained rally if there is a positive surprise today. The situation regarding Brexit and global politics remains unfavorable for the GBP.
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About Retail Sales (MoM) (UK)
The UK retail sales report is the primary indicator of consumer spending. Consumer spending makes up the majority of the economic activity in the UK. This data is released on a monthly basis, 20 days after the month ends. The source of the report is the UK Office for National Statistics. Retail sales data represents the total volume of sales, adjusted according to inflation. It is measured as a change in the percentage of sales compared to the previous month. A positive retail sales number shows that the UK economy is in a good shape. It means that business revenue and tax revenue will improve in the near term.