Daily BriefsMacro

Macro: UK: Narrow Retail Rise in Broad Recession and more

In today’s briefing:

  • UK: Narrow Retail Rise in Broad Recession

UK: Narrow Retail Rise in Broad Recession

By Phil Rush

  • UK retail sales exceeded expectations again with a 1.2% m-o-m surge in October. It was driven by an extension of recent trends. Specifically, the rotation towards consumption both from and for the home environment ahead of another lockdown within it.
  • The reliance on consumer goods over services remains negative for overall GDP, which is set to be smashed again by restrictions this winter. Divergence within the sector has also increased with the broad experience recessionary while a small set surge.

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