UK: Expect no change in retail sales for August - TDS

Analysts at TD Securities suggest that today’s release of UK retail sales for August are likely to show no change on the month, with heightened risks (market: -0.2% m/m).

Key Quotes

“One-off factors such as the World Cup and good weather have played an important role in monthly dynamics through July, and the big question now is whether consumers flood back to shops to "catch up" on lost sales, or whether they pull back from previous spending.”

“Visa spending data released earlier in the week suggest upside risks, but the data missed the July retail sales figure considerably, so might be of less use this month.”