UK retail sales up next at 9.30GMT
Sales in November were good, even if they dropped from October's impressive numbers.
Today we're expecting sales -0.1% m/m vs 0.2% & 7.2% vs 5.9% prior y/y.
Gauging retail sales around the end of the year were usually confined to December as that's when the bulk of holiday shopping was done. Now with online shopping, we've got to really look at sales across 2 or 3 months. We've had a good Oct and Nov, so a good Dec will be the icing on the cake.
After that, we'll see next month how much sales dropped off after the big spending period. That will be largely expected but if we see a good number then, then the UK consumer will be showing signs of decent spending power.
For today, I'm going to er on the side of seeing a decent print today.
UK retail sales y/y
