UK: Retail sales likely to post second consecutive 0.6% m/m gain - TDS

Analysts at TDS are looking for UK retail sales to hold up reasonably well in July with the second consecutive 0.6% m/m gain (mkt 0.2%).

Key Quotes

“This would be the first back-to-back gains in sales volumes since July-August last year. It seems that we’re near the peak of exchange rate pass-through into consumer prices, which should help to lessen the drag on real incomes later this year, and put consumer spending growth on a stronger footing going forward.”