U.K. Retail Sales Slump, More Data on Tap for Thursday

May 9, 2012 9:14 AM EDT
With all the jaw dropping the headlines out of Europe, news out of England has been mostly overlooked. With a slew of data coming out of the U.K. tomorrow, that should change pretty quickly.

Today we had a look at retail sales in the U.K., which fell the most in more than a year last month, due to poor weather and caution in consumer spending.

Continued store sales declined 3.3 percent from a year earlier, according to the British Retail Consortium. This was the biggest monthly drop since March 2011.

The U.K will report industrial production and trade balance data tomorrow, but the market will likely be more focused on the BOE's decision on whether or not to add to its bond purchases program, which right now is capped at 325 billion pounds. Most analysts aren't expecting it to change, but some analysts are predicting a 25 billion pound increase, according to a Bloomberg News survey.

Traders can get exposure to U.K. equities by trading iShares MSCI United Kingdom Index (NYSE: EWU).

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