In today’s briefing:
- UK: Retail Rebounds to Still-Bleak Trends
UK: Retail Rebounds to Still-Bleak Trends
- Retail sales rebounded slightly with the normalisation of working days after the Queen’s funeral. It also appeared to draw support from Amazon’s Prime Early Access sale.
- An end to that short sale should weigh on November, despite Black Friday, as it is already counted. We expect a brief dip below the bleak downward retail trend.
- High inflation continues to squeeze real incomes and sales. Rising rates also depress disposable income and will probably push retail’s trend pace below real incomes.
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