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UK consumer spending data for November - 'greatly lagged' inflation

Started by forex4you, Dec 06, 2022, 04:24 am

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UK consumer spending data for November - 'greatly lagged' inflation

<p>The UK data via the




</p><p>
British retail consortium (BRC) survey: </p><ul><li>
 total sales in November +4.2% y/y vs +1.6% y/y in October</li><li>


 like-for-like sales +4.1% y/y vs October +1.2% y/y</li></ul><p>And, via


</p><p>
Barclaycard:</p><ul><li>UK November consumer spending +3.9% y/y vs  October +3.5% y/y</li></ul><p>Reuters summarise:</p><ul><li>consumer spending ticked up last month at a rate that greatly lagged behind inflation</li><li>underscored the pressure on household budgets ahead of the Christmas holidays</li><li>spending ... far behind the annual 11.1% increase in consumer prices in October that was the highest reading in 41 years. </li><li>Separate data from the British Retail Consortium (BRC), covering spending in shops only, showed a 4.2% annual increase in sales after a 1.6% increase in October, driven by expenditure on food. </li></ul><p>---</p><p>Not encouraging data. GBP is little changed:</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: UK consumer spending data for November - 'greatly lagged' inflation

forexlive.com
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