UK November retail sales survey likely to show a rebound

UK's retail sales as reported by the CBI Distributive Trade survey reading stood at 19 for the month of October, which was way less than that of expected (35) and completely dropped from its previous place (September- 49). For the month of November, it is expected to rise modestly to 25.

Both large monthly fluctuations and year on year comparison functions in this, which would be the questions in the survey.

"The fall in the October survey reading should be at least partially reversed in the November survey but the size of the rebound is likely to have been limited by the fact that in November last year sales rose by 1.4% mom which is a high hurdle to repeat this year", says Societe Generale.