UK: Expect a 1% fall in sales volumes in May - Nomura

Analysts at Nomura are forecasting a 1% fall in UK’s retail sales volumes in May relative to April.

Key Quotes

“News from the retail sector has been dismal of late, with BRC total sales growth broadly flat, the CBI distributive trades survey at a standstill and car registrations underperforming according to the latest figures. Combined with a large rise in official sales volumes the previous month, we think conditions are set for a payback in May – we thereby expect a 1% fall in sales volumes in May relative to April.”