Retail Sales Month on Month
- Location: United Kingdom
- Currency: GBP
This event starts in:
Retail Sales Month on Month show changes in the value of retail goods sold in the UK for the given month compared to the previous one. 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 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.
