Details from the December 2016 UK retail sales data report 20 December 2016
– 4.3% vs 7.2% exp y/y. Prior 5.9%
– Ex-fuel -2.0% vs -0.3% exp m/m. Prior 0.5%
– 4.9% vs 7.6% exp y/y. Prior 6.6%
So much for my thoughts. The quid moving south just before the release was perhaps the clue that we were getting a bad number.