UK Retail Sales down 1.0%

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Friday, Jan 22 2016

Compared with November 2015, the quantity bought in the retail industry is estimated to have decreased by 1.0%. Analysts were expecting 0.1% decrease. When comparing the 2015 annual data with 2014, the quantity bought in the retail industry was estimated to have increased by 4.5%. The amount spent in the retail industry decreased by 1.0% in December 2015 compared with December 2014 and decreased by 1.4% compared with November 2015. The value of online sales increased by 8.2% in December 2015 compared with December 2014 and decreased by 5.2% compared with November 2015.

Separate report on Public Sector Net Borrowing beat market forecasts on decline to £10.1 billion and fell to £6.9 billion. Public sector net borrowing excluding public sector banks decreased by £4.3 billion to £7.5 billion in December 2015 compared with December 2014. Public sector net debt excluding public sector banks at the end of December 2015 was £1,542.6 billion, equivalent to 81.0% of Gross Domestic Product; an increase of £53.2 billion compared with December 2014.

Sterling is currently being traded around 1.4270 handle. Pair is likely to find support around 1.42 handle and resistance above 1.4330 level. Later today, in the US session, Existing Home Sales figures are scheduled for a release.

More in this category: « German PMI fell in January to a three-month low Existing Home Sales at an annual rate of 5.46 million »

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