Historic Charts: UK Retail Sales

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UK RETAIL SALES EXPECTED TO BE BOOSTED BY STRONG LABOR MARKET: UNEMPLOYMENT CLAIMS DROPPED MORE THAN EXPECTED IN JANUARY, REDUCING THE RATE TO 2.9% V 3% PRIOR (DATA DUE 4:30 ET)
- UK retail sales expected to be boosted by strong discounting at major UK retailers.
- Traders noting that GBP strength over the last few hours can be attributed to expectations that we may see a strong reading.

UK JAN RETAIL SALES: NOTE THAT THE BRITISH RETAIL CONSORTIUM SAID THAT THE MOMENTUM WHICH BUILT UP IN DECEMBER HAS CARRIED THROUGH INTO THE NEW YEAR AND THIS IS THE BEST JANUARY REPORT FOR THREE YEARS (DATA DUE 4:30 ET)
- UK retail sales were up 3.1% on a like-for-like basis, compared with January 2006, when sales had risen only 0.2% after a strong Christmas according to a KPMG-British Retail Consortium (BRC) survey

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TTN ANALYSIS: UK RETAIL SALES
- Retail sales blew out expectations in the UK rising to 1.4% m/m in February, a 13-month high, and 4.9% y/y, a 26-month high, with upward revisions to January's figures. Retail sales were led higher by growth in clothing and footwear sales, as well as other non-food store sales. The stronger than expected retail sales data suggests that January's data may have been a blip, bringing talk of a possible rate hike in the near future back into play as the economy shows signs that it is not as cool as some think. For the 3-month period from December through February retail sales grew by 1.1% against the previously three months, and 4.1% compared to the same period last year.