James Smith, Developed Markets Economist at ING, notes that the UK retail sales edged higher by 0.3% in August following a very strong July trading period.
Key Quotes
“Despite some better news on wage growth over recent months, real incomes remain under pressure from higher inflation.”
“But as we edge closer to the crucial pre-Christmas trading period, the big challenge for retailers could come from the threat of a ‘no deal’ Brexit.”
“With a growing number of newspaper headlines warning about the day-to-day impact this scenario would have, it’s possible this begins to take a greater toll on consumer sentiment.”
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