The UK data via the
British retail consortium (BRC) survey:
- total sales in November +4.2% y/y vs +1.6% y/y in October
-
like-for-like sales +4.1% y/y vs October +1.2% y/y
And, via
Barclaycard:
- UK November consumer spending +3.9% y/y vs October +3.5% y/y
Reuters summarise:
- consumer spending ticked up last month at a rate that greatly lagged behind inflation
- underscored the pressure on household budgets ahead of the Christmas holidays
- spending … far behind the annual 11.1% increase in consumer prices in October that was the highest reading in 41 years.
- Separate data from the British Retail Consortium (BRC), covering spending in shops only, showed a 4.2% annual increase in sales after a 1.6% increase in October, driven by expenditure on food.
—
Not encouraging data. GBP is little changed:
This article was originally published by Forexlive.com. Read the original article here.