Details of the January 2016 UK retail sales data report 19 February 2016
- Prior -1.0%. Revised to -1.4%
- 5.2% vs 3.6% exp y/y. Prior 2.6%. Revised to 2.3%
- Ex-fuel 2.3% vs 0.7% exp m/m. Prior -0.9%. Revised to -1.3%
- 5.0% vs 3.5% exp y/y. Prior 2.1%. Revised to 1.8%
Huge jump in retails for Jan. I'll check the details to see what had that effect. ONS say all store types contributed.
UK retail sales details
Average store prices dropped 2.6% and January is a big sales month, so that could be the main reason why sales were so high. That said, m/m sales in Jan 2015 were down 0.5%.
Despite my scepticism it's looking like it's a very good report.
The pound is ignoring all the good news from this and the borrowing numbers and dropping to 1.4274 1.4268. Some wires are citing the worse revisions but that sounds like trying to put a square peg in a round hole. EU/UK negotiations are the big fish right now.
UK retail sales y/y
