June 2015 UK retail sales data report 23 July 2015
- Prior 0.2%. Revised to 0.3%
- 4.0% vs 4.9% exp y/y. Prior 4.6%. Revised to 4.7%
- Ex-fuel -0.2% vs 0.3% exp m/m. Prior 0.2%. Revised to 0.4%
- 4.2% vs 5.0% exp y/y. Prior 4.4%. Revised to 4.7%
- Q2 sales 0.7% vs 0.9% in Q1 q/q
- 4.4% vs 5.5% prior y/y
Worse than expected but somewhat shadowed by better revisions. The Q2 numbers are also out and they show the weakest spending growth since Q1 2013 y/y and the lowest since Q3 2014 q/q
GBPUSD has been kicked back through 1.5600 to 1.5588. I'm going to look to have a little buy here as retail sales can be choppy at the best of times and this data goes against the current dollar weakness trend today
There's a lot being made about the drop in quarterly sales values but that's obvious given the lower input prices and inflation, and doesn't necessarily mean people are buying less. Year on year sales are still relatively good.
Sales were mainly driven lower by furniture, electricals and non-food stores
UK retail sales y/y