This is not a good look as UK retail sales is seen falling in August at its quickest pace since March 2021. Adding to the misery is that retail stores continue to see a tough time in the month ahead, with the expectations reading still deeply negative at -21 (although an improvement to the -32 reading last month). The quarterly business situation balance also falls to its lowest this year at -14 now, down from +6 in May.

This article was written by Justin Low at www.forexlive.com.