17thNovember 2023
Friday
On Friday, November 17, 2023,the United Kingdom is poised to disclose its month-over-month Retail Salesfigures. This highly anticipated announcement is set to provide insights intothe current consumer spending trends within the UK market. Analysts and traderswill be closely monitoring these results as they anticipate potential impactson economic forecasts and market movements.GBP - RetailSales m/m
Market participants are highly interested in this data because it represents the primary gauge of consumer spending, which forms a substantial component of the broader economic activity.
In September 2023, UK retail sales experienced a 0.9% decline, contrasting with the 0.4% growth observed in August and falling short of the market's expected 0.2% decrease. This drop was particularly pronounced in non-food stores, where sales decreased by 1.9%, notably affecting furniture, lighting, watches, jewelry, clothing, and department stores, primarily due to cost of living pressures and unseasonably warm weather impacting autumn clothing sales. However, there was a 0.2% increase in food store sales and a 0.8% rise in auto fuel sales. On an annual basis, retail sales were down by 1%, marking the smallest decline since April 2022 but exceeding the anticipated 0.1% drop. In the third quarter of the year, retail sales exhibited a 0.8% decline compared to the previous three months.
TL;DR
Category
Detail
1 Overall Retail Sales
Declined by 0.9%, contrasting with 0.4% growth in August, below the expected 0.2% decrease
2 Non-Food Store Sales
Decreased by 1.9%, notably impacting furniture, lighting, watches, jewelry, clothing, and department stores
3 Influencing Factors
Cost of living pressures and unseasonably warm weather
4 Food Store Sales
Increased by 0.2%
5 Auto Fuel Sales
Rose by 0.8%
6 Annual Sales Trend
Down by 1%, smallest decline since April 2022, exceeding the anticipated 0.1% drop
7 Quarterly Sales Trend
0.8% decline in Q3 compared to the previous three months
The forthcoming Retail Sales m/m data is scheduled for publication on November 17, 2023, at 07:00 AM GMT, attracting significant attention from market observers.
The forecast for Retail Sales m/m is reading a declineof -0.4%.
The last time, UK Retail Sales m/m wasannounced on the 20th of October, 2023. You may find the marketreactiongraph (GBPJPY M1) below:
