Prior +0.5%; revised to +0.6%Retail sales +1.5% vs +0.4% y/y expectedPrior +0.7%Retail sales ex autos, fuel +0.6% vs -0.6% m/m expectedPrior +0.8%; revised to +1.0%Retail sales ex autos, fuel +2.3% vs +0.7% y/y expectedPrior +1.2%; revised to +1.3%
That’s a solid beat on retail sales activity to wrap up Q3. And that is despite both food store sales and department store sales seen declining by 0.1% and 0.3% respectively on the month. The breakdown shows an increase in sales for other non-food stores (+2.1%), textile, clothing (+0.1%), household goods stores (+1.2%), and non-store retailing (+1.5%). This will at least help to give the BOE some comfort in affording them added flexibility going into year-end.
This article was written by Justin Low at investinglive.com.