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.
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