UK DATA: Oct Retail Sales inc. fuel +0.5% m/m; -0.1% y/y
–Oct retail sales ex fuel +0.3% m/m; +1.2% y/y
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Retail sales were up 0.5% m/m in Oct, a little above the median for a
0.4% rise, and down 0.1% y/y against expectations for flat. There was a
down revision to Sep with sales now down 0.5% m/m compared with the
originally estimated fall of 0.2%, although there was an up revision to
Aug to -0.4% m/m from -0.7%. Ex auto fuel sales were up 0.3% m/m, a
touch higher than the 0.2% m/m median forecast. Growth this month was
led by other stores, clothing and footwear and non-store retailing. Food
was up 0.1%. Falls were seen in department stores and household goods.
Overall the figures showed continued growth on the High Street, although
the 3m trend rate of growth fell to 0.1% this month, the lowest since
April 2010.