FOREX CARD

UK data – BRC sales like-for-like for June +10.9% y/y (vs. prior +7.9%) – ForexLive


British Retail Consortium “like-for-like” sales basis strips out changes in store size

  • Total June sales +3.4% y/y (prior +5.9%

Solid gains, pent up demand propelling sales higher after the UK lockdown. Total sales are the highest % gain since May of 2018. From a very low base, of course.

BRC chief executive Helen Dickinson:

  • “Though a month of growth is welcome news, retail is not out of the woods yet. The pandemic continues to pose huge challenges to the industry, with ongoing stores closures and job losses across the UK”

Other data out also, from Barclaycard payment card info:

  • said overall consumer spending fell 14.5% in annual terms in June
  • the smallest decline since lockdown began
  • spending on food and drink outside the home was down 56% y/y in June (+70% m/m from that low May base)

GBP is unmoving.

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