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U.K. retail sales likely dropped in October

U.K retail sales data for October is scheduled to publish today. The sales increased by 1.7% month on month in September were above markets' expectation.

The reading for October is likely to come down due to bank holiday effects. However, it is noticed that sales growth is highly volatile, therefore, it the trend may reverse in the October data.

A fall of 1.0% mom in sales ex auto fuels is anticipated in October, says Societe Generale in a research note on Thursday.

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