Retail Sales y/y show changes in the value of retail goods sold in the UK during the given month compared to the same month of the previous year. The calculation is based on a survey, which samples 5,000 retail businesses.
The questionnaire collects data on the entire retail turnover in the country, including individual stores, markets, door-to-door and telephone sales. A separate question concerns the total amount of retail sales made online.
Statistics of retail sales include the cost of food, clothing, shoes, household items, etc. The indicator separately accounts for non-store retailing (door-to-door, stalls, Internet sales, etc.). Services are not included: holidays, air fares and train tickets, insurance, banking, etc. A seasonally adjusted index is calculated based on the survey results. The index is calculated in relation to a base year of 2013 having a benchmark level of 100. A month-to-month and year-to-year index change is measured in percent.
This indicator is one of the earliest indicators of the economic policy effectiveness. It is used when preparing national reports (GDP, current account balance, etc.). Economic regulation measures are adopted based on the RSI. In GDP calculation, the RSI is used to measure household final consumption expenditure (when GDP is measured from the expenditure approach).
Being a measure of consumer activity, the Retail Sales Index growth can affect the British pound quotes positively.
The chart of the entire available history of the "United Kingdom Retail Sales y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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