UK Retail Sales Accelerate Even as Stocks Plunge to Record-Low

Source: CBI

Retail sales in the United Kingdom accelerated in October, even as stocks reached a record low. EWU is up 0.62% premarket.

• Retail sales grew at a balance of +33%, faster than the +11% recorded in August. November sales are expected at +35%.
• Year-to-date orders growth jumped to +48% from +20% the previous month but expected to ease slightly to +41% in November.
• Sales in October. 
• Sales remained broadly average for the time of the year, and are expected to grow above seasonal norms in the following month.
• Internet sales growth slowed to +7% from +36% and is likely to slow further to +5% in November.
• Wholesalers saw a +27% growth in sales in October, down from +30% in September. This is expected to grow above seasonal norms next month.
• Motor traders saw sales up +57% from +29%, which is expected to grow even further by +61% in November.
• Stocks plunged to a record low of -31% from -23% but is expected to ease to -27% next month.
• CBI Principal Economist Ben Jones said retailers find it difficult to plan for the coming winter as stock shortages continue to hit.