Retail Sales in Britain
Retail Sales (MoM) (UK)
Sales Set to Decline in UK in October
Starts Wednesday, October 17, 2018 at 03:52
Updated Monday, October 15, 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 in July, declining by 0.5%. Although in August, retail sales increased by 0.7%. In September, sales increased by 0.3% when they were expected to decline. This month they are expected to decline, but we might see yet another positive surprise. Even if that is the case, 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. Please follow us for live coverage of this event and the impact it might have on the currency explained by experienced analysts.
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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.