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

October 26, 2021 by Forex Winner Leave a Comment

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.

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