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UK Retail Sales up by 0.2%

Thursday, Dec 15 2016
UK Retail Sales up by 0.2%

In November 2016, the quantity of goods bought (volume) in the retail industry was estimated to have increased by 5.9% compared with November 2015; all store types showed growth with the largest contribution coming from non-store retailing. Compared with October 2016, the quantity bought was estimated to have increased by 0.2%; there was a mixed picture across store types with strong growth reported in some sectors. In particular, within non-food stores, feedback from household goods stores stated that “Black Friday” events had boosted sales in November.

 

The underlying pattern in the retail industry continues to show strong growth with the 3 month on 3 month movement in the quantity bought increasing by 2.1%; this is the 35th consecutive period of 3 month on 3 month growth. Average store prices (including petrol stations) increased by 0.1% in November 2016 compared with November 2015; this was the first year-on-year increase since June 2014. The largest contribution to the increase came from petrol stations. This is consistent with the latest Consumer Prices Index (CPI) data, which showed an increase in petrol prices.

 

Sterling is currently being traded around 1.2530 level. Pair is likely to find support around 1.2450 handle and resistance above 1.2580 area.

Last modified on Friday, 16 December 2016
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