Retail Sales Growth Seen Likely to Slow in the Next Few Months

UK Retail Sales Growth Seen as Likely to Slow in the Next Few Months

0854 GMT - The 0.8% on-month rise in U.K. retail sales volumes in October appears to reflect consumers purchasing Christmas gifts earlier than usual due to warnings about product availability, rather than a sustainable improvement, Pantheon Macroeconomics' chief U.K. economist Samuel Tombs says. Retail sales are likely to fall back in November and struggle over the next months as households' real disposable income will be squeezed by inflation, he says. "Households still can spend more over the coming quarters, despite their incomes falling, if they reduce their saving rate from its current above-average level," Tombs says. "But weak consumer confidence suggests households will continue to be cautious," he says. ([e-mail])

 
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11-19-21 0412ET