- Prior -0.3%. Revised to -0.4%
- 4.3% vs 3.8% exp y/y. Prior 2.7%. Revised to 2.3%
- Ex-fuel 0.8% vs 0.3% exp m/m. Prior -0.3%.
- 4.6% vs 4.2% exp y/y. Prior 3.1%. Revised to 2.8%
Better than expected but not a hugely positive report. Lower revisions too. Cable has a little “thank-the-stars-it-wasn’t-bad” rally to 1.5682 from 1.5640
As highlighted in my preview, furniture sales helped drive purchases alongside Food, non-food stores and petrol. Some attention needs to be paid to the retail sales deflator which has seen the biggest fall since Dec 2002 on falling petrol prices. It was down 1.5% y.y vs -1.4% in Sep.
Total spend was +2.8% y/y and +0.7% m/m
UK retail sales m/m & y/y 20 11 2014
