20 Jan 2016
UK retail sales expected to register 0.7% monthly rise in December – Lloyds Bank
FXStreet (Delhi) – Research Team at Lloyds Bank, suggests that UK’s December retail sales will provide an estimate of the strength of consumer spending in the run up to Christmas.
Key Quotes
“Spending surged in November as shoppers took advantage of Black Friday discounts. Reports of sales since then have been mixed. The December BRC and CBI surveys disappointed but reports from retailers, apart from M&S and Next, suggest reasonable Christmas sales.
There is a risk that December’s figure could fall back following the November rise but aggressive discounting could mean that sales hold up in volume terms even if the value increase is modest. We forecast a 0.7% monthly rise, but note that forecasting sales over the festive period has always been challenging and changing trading patterns around Christmas only increases the uncertainty.”
Key Quotes
“Spending surged in November as shoppers took advantage of Black Friday discounts. Reports of sales since then have been mixed. The December BRC and CBI surveys disappointed but reports from retailers, apart from M&S and Next, suggest reasonable Christmas sales.
There is a risk that December’s figure could fall back following the November rise but aggressive discounting could mean that sales hold up in volume terms even if the value increase is modest. We forecast a 0.7% monthly rise, but note that forecasting sales over the festive period has always been challenging and changing trading patterns around Christmas only increases the uncertainty.”