UK Retail Sales Fall More Than Expected

RTTNews | 32 dias atrás

(RTTNews) - UK retail sales declined more than expected in October as consumers reduced their spending on food and clothing, data released by the Office for National Statistics showed on Friday.

Retail sales dropped 0.7 percent on a monthly basis in October, in contrast to the revised 0.1 percent rise in September. Sales were expected to fall 0.3 percent.

Excluding auto fuel, retail sales posted a decline of 0.9 percent after a 0.1 percent gain. Economists forecast sales to drop 0.3 percent.

Non-food stores sales volumes decreased 1.4 percent as retailers reported that Budget uncertainty affected sales. Food store sales were down 0.6 percent, while auto fuel sales rebounded 0.6 percent. Year-on-year, retail sales growth eased to 2.4 percent in October from 3.2 percent in September.

Excluding auto fuel, retail sales growth slowed to 2.0 percent from 3.2 percent in the previous month.

Capital Economics' economist Ashley Webb said the bigger-than-expected fall in retail sales indicates that households' concerns about tax rises announced in the Autumn Budget contributed to weaker retail spending at the start of the fourth quarter.

Elsewhere, survey results from the market research group GfK showed that consumer confidence ticked up in November ahead of the shopping season. Moreover, concerns about the impact of the UK budget and the US presidential election eased.

The consumer confidence index rose to -18 in November from -21 in October as all five sub-indices of the index were up from the previous month.

Etiquetas: GBP

UK Economy Flatlines In Q3

The UK economy stalled in the third quarter as the services sector posted nil growth and the moderate expansion in construction was offset by the fall in industrial production, the Office for National Statistics reported Monday. Real gross domestic product remained flat in the third quarter, which was revised down from the 0.1 percent rise estimated initially. This follows a 0.4 percent expansion.

RTTNews | 1 dia atrás

UK Retail Sales Rise Less Than Forecast

UK retail sales grew for the first time in three months in November but the pace of expansion was weaker than expected as consumers were cautious in the wake of government's first budget. A closely watched survey showed that retailers reported a moderate fall in retail sales in December despite festive season and they forecast another decrease in January.

RTTNews | 4 dias atrás

UK Car Manufacturers Report Worst Production For November Since 1980

UK car production posted its sharpest decline for the month of November since 1980 largely reflecting weaker global demand, data published by the Society of Motor Manufacturers and Traders showed on Friday. Car production declined 30.1 percent on a yearly basis in November. This was the ninth consecutive decline.

RTTNews | 4 dias atrás

Bank Of England Holds Key Rate Steady; More Members Sought Reduction

The Bank of England decided to leave its benchmark rate unchanged on Thursday as majority of policymakers called for a gradual approach to the withdrawal of policy restrictiveness amid acceleration in inflation and wage growth, while the divide in the rate-setting body widened. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to hold the bank rate at 4.75 percent.

RTTNews | 5 dias atrás

UK Inflation Highest In 8 Months

UK consumer price inflation accelerated to an eight-month high in November, reinforcing the chances of the Bank of England deciding to keep the interest rate unchanged on Thursday. The consumer price index rose 2.6 percent year-on-year following a 2.3 percent gain in October, the Office for National Statistics reported Wednesday.

RTTNews | 6 dias atrás

UK Wage Growth Suggests Gradual Interest Rate Cuts

The UK wage growth accelerated more than expected in the three months to October supporting a case for more gradual interest rate reductions next year as pay increases could revive inflationary pressures. Excluding bonus, annual growth in average earnings came in at 5.2 percent compared to 4.9 percent in the three months to September, the Office for National Statistics said Tuesday.

RTTNews | 7 dias atrás

UK Private Sector Logs Steady Growth

The UK private sector logged a steady growth in December with rising activity across the services economy offsetting an accelerated downturn in manufacturing output, flash survey results from S&P Global showed on Monday. The flash composite output index posted 50.5 in December, unchanged from November's 13-month low.

RTTNews | 8 dias atrás

UK Economy Shrinks In October

The UK economy contracted marginally for the second straight month in October largely reflecting the fall in industrial production, official data revealed Friday. Real gross domestic product shrank unexpectedly 0.1 percent in October, the same pace of decline as in September, the Office for National Statistics reported. GDP was forecast to grow 0.1 percent.

RTTNews | 11 dias atrás

EURUSD	1.03907	GBPUSD	1.25307	AUDUSD	0.62336
USDJPY	157.347	USDCAD	1.43669	USDCHF	0.90075