UK Retail Sales Surpass Expectations

October 27, 2009 Share Print 0

The report from CBI indiacted better than expected numbers from UK retailers. The recovery is seen as very positive but still not enough to offset the fall in August of 16%.

Some 41 per cent of retailers said that sales volumes for the year to October had risen, while 33 per cent said that they were down.

The resulting balance of plus 8 per cent was the highest since December 2007, when the balance was also plus 8 per cent, the CBI said.

The findings far surpassed analysts’ expectations of a balance of 3 per cent.

Times Online

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.