U.K. retail sales likely to fall in October

In the United Kingdom, the retail sales data for October is due this week. The sales increased by 1.7% month on month in September were above market 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.