UK retail sales likely to see a minor recovery

UK retail sales excluding auto fuel are expected to see a recovery in the month of November from previous month's drop on mom basis.

CBI Distributive Trades survey indicates another decline in reported sales which should be in line with another drop in yoy growth rate.

"Even though the underlying demand conditions remain extremely strong, we think that sales will have made a relatively minor gain of 0.4% mom in November, lowering the yoy rate from 3.0% to 2.0%", says Societe Generale.