UK CBI Oct retailing data now out 26 Oct
- 42 prev
- total distributive reported sales 1 vs 44 prev
- Nov expectations +3 vs +23 prev
Soggy data puts a cap on GBPUSD rally from 1.3179 to 1.3220 but not really prime data. More an indication.
The Confederation of British Industry (CBI) Distributive Trades Survey (DTS) measures the health of the retail sector. The reading is compiled from a survey of about 150 retail and wholesale companies. It includes measures of sales activity across the distributive trades.
Say the CBI:
Retail sales declined sharply in the year to October, disappointing expectations for a solid expansion, according to the latest monthly CBI Distributive Trades Survey.
The survey of 106 firms, of which 49 were retailers, showed that in the year to October, retail sales fell at the quickest rate since March 2009 — the height of the financial crisis.
Overall, sales for the time of year were considered to be slightly below seasonal norms. Meanwhile, orders placed on suppliers also dropped at the fastest rate since March 2009.