Latest data released by ONS - 20 December 2018
- Prior -0.5%; revised to -0.4%
- Retail sales +3.6% vs +2.0% y/y expected
- Prior +2.2%; revised to +2.4%
- Retail sales (ex autos, fuel) +1.2% vs +0.2% m/m expected
- Prior -0.4%
- Retail sales (ex autos, fuel) +3.8% vs +2.3% y/y expected
- Prior +2.7%; revised to +2.8%
That's a solid beat on the figures there as online sales rose sharply but then again, we need to account for seasonal factors like Black Friday into the data. Nonetheless, it's a decent beat as the headline figure is the sharpest rise since May.
This will at least help to add to positive sentiment on Q4 GDP as we round off the year. The pound moved a little higher on the back of this with cable up from 1.2680 to a high of 1.2692 before settling back down again now. Once again, it's all about Brexit for the pound and that puts economic data in second place in terms of having a lasting and significant reaction.
