British Retail Consortium data for July 2023:
- Like for like sales 1.8% YoY vs 3.0% expected. Prior month 4.2%
- Total retail sales 1.5% of the vs 4.9% prior month
The BRC-KPMG Retail Sales Monitor (RSM) is an accurate monthly measure of UK wide retail sales performance that acts as both a benchmark for participating retailers and as a key economic indicator. The RSM measures changes in the actual value of retail sales based on figures supplied directly by participating members representing over 60% of the industry by turnover. Originally set up at the request of BRC members to benchmark their own business performance against the wider industry, the BRC-KPMG Retail Sales Monitor is an authoritative measure on the health of the UK retail sector and the wider economy.
The GBPUSD was trading at 1.2781 prior to the report ended little changed after the report
In a separate report
- Barclays UK July consumer spending +4.0% year on year versus 5.4% in June. Supermarket spending growth slows sharply.