- Prior -0.3%; revised to 0.0%
- Retail sales +0.1% vs -1.3% y/y expected
- Prior -2.7%; revised to -2.5%
- Retail sales (ex autos, fuel) +1.3% vs +0.4% m/m expected
- Prior -0.1%; revised to +0.2%
- Retail sales (ex autos, fuel) +0.3% vs -1.5% y/y expected
- Prior -2.4%; revised to -2.1%
That’s a strong beat in UK retail sales and bucks the trend of disappointment in recent months. Adding to that is the positive revision higher to the October estimates as well, making this a better report than what it is at first glance as well. The breakdown shows food stores sales rising by 0.3% with the bulk of the increase coming from non-food stores retail sales, which were up 0.9%. Fuel sales contributed 0.1% on the month.
Despite the improvement, it must be noted that there remains a stark divergence between the volume and value of retail sales in the UK. And that continues to highlight a price problem that will impact consumers in the bigger picture: