UK Nov retail sales weaker, but bang on expectations

The office for National Statistics (ONS) published the UK’s retail trade report for the month of November, which showed that the UK consumer spending dipped across the time horizon, but came in line with markets’ expectations.

The UK’s retail volumes came in at 0.2% in Nov m/m versus a revised 1.8% seen in Oct, while the annualized retail spending rose 5.9% versus 7.2% last.  

 Retail sales data excluding volatile items such as fuel dropped sharply to 0.5%, but beat estimates, while came in at 6.6% y/y versus 7.5% previous.