UK: Retail sales to rise only modestly in August - Nomura

Analysts at Nomura offer their insights on the key UK retail sales release due on the cards this Thursday at 0830 GMT.

Key Quotes:

“Retail sales volumes grew by almost 1% in July, some of which may have been due to the weather and the football World Cup, and some of which may have been a bounce-back from June's fall.

The CBI retail survey remained strong in August, hence we expect sales to rise again on the official measure also. However, we expect only a modest gain following the sizable rise in June.”