U.K. Retail Sales down by 0.6%

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Thursday, Nov 19 2015

Year-on-year estimates in the quantity bought in the retail industry show growth for the 30th consecutive month in October 2015, increasing by 3.8% compared with October 2014. The underlying pattern in the data, as suggested by the 3 month on 3 month movement in the quantity bought, showed growth for the 23rd consecutive month, increasing by 0.9%.

Compared with September 2015, the quantity bought in the retail industry is estimated to have decreased by 0.6%. Analysts were expecting 0.4% decline.Average store prices (including petrol stations) fell by 3.3% in October 2015 compared with October 2014, the 16th consecutive month of year-on-year price falls.

The amount spent in the retail industry increased by 0.5% in October 2015 compared with October 2014 and decreased by 0.7% compared with September 2015. The value of online sales increased by 11.2% in October 2015 compared with October 2014 and decreased by 0.8% compared with September 2015.

After the data Sterling fell but managed to rebound and is currently being traded around 1.5270 area. Pair is likely to find support around 1.5250 handle and resistance above 1.53 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.

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