Search ForexCrunch

According to the Confederation of British Industry’s latest Distributive Trades Survey, Retail Sales Balance in October slumped to -23 from +11 in September and missed Reuters’ estimate of +1 by a wide margin. This was also the lowest print since June. 

Further details of the publication revealed that the Retail Sales Expectations Balance dropped to -26, worst reading since July, for November from 0 for October.

Market reaction

Despite the disappointing report, the UK’s FTSE 100 clings to modest daily gains and was last seen up 0.17% on a daily basis at 5,802.