Latest data released by ONS - 15 November 2018
- Prior -0.8%; revised to -0.4%
- Retail sales +2.2% v +2.8% y/y expected
- Prior +3.0%; revised to +3.3%
- Retail sales (ex autos, fuel) -0.4% vs +0.2% m/m expected
- Prior -0.8%; revised to -0.3%
- Retail sales (ex autos, fuel) +2.7% vs +3.4% y/y expected
- Prior +3.2%; revised to +3.6%
A poor report that only serves to compound the pound's woes on the day. There are positive revisions to be had but this isn't a good signal for Q4. And it further highlights that the Q3 growth bump is merely a one-off owing to seasonal factors.
Cable was brought lower from 1.2820 levels to a low of 1.2809 on the back of this but economic data hardly matters now. It's still all about Brexit.
