UK: Retail sales in focus - TDS

In view of TD Securities analysis team, there doesn't seem to be much going for UK retail sales for the month of June.

Key Quotes

“With poor weather for most of the month, and after seeing the services PMI fall to the break-even level of 50, we're looking for a third straight monthly decline with ex-fuel sales at -0.4% m/m (mkt: -0.2%). After a solid 1.4% q/q gain in Q1, we look for a much smaller 0.3% q/q gain in Q2, and it's only the solid hand-off from March that leaves the q/q figure in positive territory.”