UK Retail Sales

The third nationwide lockdown has hit the UK economy hard as consumers tighten their belts and cut spending by a staggering amount, according to new ONS data.

UK retail sales were little changed in December after an anticipated rebound failed to materialise and government borrowing surged ahead of the festive holidays in what economists say should be taken by Chancellor Rishi Sunak as a warning against any tax rises in the March budget. 

UK retail sales for the month of October confirmed that the UK continues to spend earnings on goods, as opposed to spending it on service-based activities, a trend that will likely continue given November's lockdown.

Britain’s bricks and mortar stores caught up with the rest of the retailer class in September when sales rose faster than was expected, taking them above pre-pandemic levels, but fresh coronavirus-related restrictions on activity and looming income declines could see that success snatched away again in October. 

UK retail sales rose above year-ago levels in July after unwinding the coronavirus impact in the recent quarter, although the nascent boom is yet to lift vast parts of the high street from depression and could fade alongside government financial support schemes later in the year.

UK retail sales surged in June while IHS Markit PMI surveys suggested that manufacturing and services companies operating in the troubled UK economy pulled ahead of the Eurozone rivals in July, although economists have cautioned that the retail data likely overstates the broader economic recovery.  

Retail sales grew 12.0% month-on-month in May reports the ONS, a strong recovery on the previous month's slump of -18% and ahead of consensus estimates for a figure of 5.7% to be announced.

Retail sales grew for the first time since November 2018 in the year to April, according to the latest monthly CBI Distributive Trades Survey.

Pound Sterling was seen outperforming peers on Thursday, April 18 after UK retail sales data surprised the currency market traders by printing at a stronger level than was expected.

UK retail sales rebounded in January from a steep slump in the final month of 2018, as consumers headed back to the High Street in the New Year, potentially setting the economy up for a recovery of GDP growth from a similar downturn back in December. 

The Pound appeared to falter on Friday after official data revealed a steeper-than-expected fall in retail spending during December, although losses have been shallow given the latest developments in the Brexit process, which could now support the currency into the new week. 

Data from the CBI shows UK retailers to have enjoyed a strong pickup in activity ahead of the crucial Christmas trading period.

U.K. retail sales surprised on the downside Thursday after official data revealed a decline in spending on the high street during the month of October, marking a poor start to the final quarter for the economy.

The Pound advanced against all rivals Thursday as traders responded to official data showing retail sales continuing to rise in August, despite analysts overwhelmingly anticipating a consumer retrenchment for the recent month.

The Pound crept higher during early trading Thursday as traders took up positions ahead of the release of retail sales data for July, which some hope will show a rebound in spending on the high street following a disappointing set of figures for June.

UK retailers remained under pressure during July, according to the latest British Retail Consortium (BRC) report on high street activity, as a continued slowdown in non-food spending more than offset an increase in food and beverages brought on by abnormally hot weather last month. 

The Pound weakened further against the US Dollar and Euro Thursday after official data revealed a surprise contraction in UK retail sales during the June month.

UK retail sales have risen during the second-quarter and are forecast by companies operating in the sector to expand by a decent clip throughout the rest of 2018, according to the Bank of England (BoE), although the recovery from an earlier first quarter slump is still fragile and has been influenced most by a marked improvement in the weather. 

UK retail sales growth rose to its fastest level this year during June, according to Confederation of British Industry (CBI) data, suggesting the UK economy may be regaining some of the momentum lost in the first-quarter. 

The Pound surged higher on Thursday as trader responded to Office for National Statistics data showing UK retail sales rising at a rapid pace for the second consecutive month in May, suggesting the economy may finally be recovering from its first-quarter slump and helping support expectations of a Bank of England interest rate rise in August.