UK: Retail sales to post flat reading of 0.4% for June - TDS

In view of analysts at TDS, the UK consumer likely held back on spending growth in June as political uncertainty and Brexit headlines continued to dominate the news cycle at the same time that real income growth became firmly entrenched in negative territory.

Key Quotes

“Nevertheless, with weather warmer than usual in the month, we look for downside risk to consensus, with a flat m/m reading (market: 0.4% m/m). With only one month of growth in the quarter, this still leaves Q2 retail sales gaining 1.2% q/q after a 1.6% decline in Q1.”