UK November retail sales +1.3% vs +0.4% m/m expected

<ul><li>Prior -0.3%; revised to 0.0%</li><li>Retail sales +0.1% vs -1.3% y/y expected</li><li>Prior -2.7%; revised to -2.5%</li><li>Retail sales (ex autos, fuel) +1.3% vs +0.4% m/m expected</li><li>Prior -0.1%; revised to +0.2%</li><li>Retail sales (ex autos, fuel) +0.3% vs -1.5% y/y expected</li><li>Prior -2.4%; revised to -2.1%</li></ul><p>That's a strong beat in UK retail sales and bucks <a href="https://www.forexlive.com/news/another-disappointment-for-the-uk-retail-sales-report-today-20231222/" target="_blank" rel="follow">the trend of disappointment in recent months</a>. Adding to that is the positive revision higher to the October estimates as well, making this a better report than what it is at first glance as well. The breakdown shows food stores sales rising by 0.3% with the bulk of the increase coming from non-food stores retail sales, which were up 0.9%. Fuel sales contributed 0.1% on the month.</p><p>Despite the improvement, it must be noted that there remains a stark divergence between the volume and value of retail sales in the UK. And that continues to highlight a price problem that will impact consumers in the bigger picture:</p>

This article was written by Justin Low at www.forexlive.com.