19 Jun 2014
Not much to get worried about in UK retail sales data - TD Securities
FXStreet (Łódź) - Tim Davis, Vice President and Global Strategist at TD Securities, comments on the UK retail sales data released earlier on Thursday, saying that looking through the details there's not much to get worried about.
Key quotes
"Fuel and especially food were the big downsides while most other components rose on the month. The food side is some unwind from the Easter adjustments still, and whatever World Cup effect there was in May (with football shirts selling well) will be even better in June, especially into some of the higher value items like TVs."
"There was also evidence of decent discounting from retailers on the month which overall would continue to point to decent purchasing power from consumers."
Key quotes
"Fuel and especially food were the big downsides while most other components rose on the month. The food side is some unwind from the Easter adjustments still, and whatever World Cup effect there was in May (with football shirts selling well) will be even better in June, especially into some of the higher value items like TVs."
"There was also evidence of decent discounting from retailers on the month which overall would continue to point to decent purchasing power from consumers."