BRC sales data shows weaker performance - fuel shortage cited

BRC Sales like-for-like for September -0.6% /y  expected 0.3% y/y, prior 1.5% like-for-like sales data strips out the impact of changes in store size. Total sales +0.6% y/y  prior +3% y/y The British Retail Consortium said retail spending lost more momentum last month: "There are signs that consumer confidence is being hit as the fuel shortages, combined with wetter weather, had an impact in the second half of the month" "This had a bigger effect on large purchases such as furniture and homeware."  The fuel shortage referred to is in relation panic-buying of fuel in September due to a shortage of tanker drivers leading to disruption of supplies.   Separate data from card payments firm Barclaycard: spending on fuel +11% in September 2020 y/y, the largest rise in over 2 years overall consumer card spending +13.3% compared to the same period in 2019 More info via Reuters: Almost half of Barclaycard's respondents reported seeing empty spaces on the shelves, reflecting the shortage of truckers, and 18% said they found it harder than usual to find fresh fruit and vegetables.  Nine out of 10 respondents were concerned about the impact of inflation on their household finances Invest in yourself. See our forex education hub.

BRC sales data shows weaker performance - fuel shortage cited

BRC Sales like-for-like for September -0.6% /y 

  • expected 0.3% y/y, prior 1.5%

  • like-for-like sales data strips out the impact of changes in store size.

Total sales +0.6% y/y 

  • prior +3% y/y

The British Retail Consortium said retail spending lost more momentum last month:

  • "There are signs that consumer confidence is being hit as the fuel shortages, combined with wetter weather, had an impact in the second half of the month"
  • "This had a bigger effect on large purchases such as furniture and homeware." 

The fuel shortage referred to is in relation panic-buying of fuel in September due to a shortage of tanker drivers leading to disruption of supplies.  

Separate data from card payments firm Barclaycard:
  • spending on fuel +11% in September 2020 y/y, the largest rise in over 2 years
  • overall consumer card spending +13.3% compared to the same period in 2019

More info via Reuters:

  • Almost half of Barclaycard's respondents reported seeing empty spaces on the shelves, reflecting the shortage of truckers, and 18% said they found it harder than usual to find fresh fruit and vegetables. 
  • Nine out of 10 respondents were concerned about the impact of inflation on their household finances

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