MasterCard Advisors, the professional services arm of MasterCard Worldwide, today announced the launch of MasterCard SpendingPulse in the UK, one of the largest, fastest retail sales data sources available for the economic, fixed income and foreign exchange marketplaces.
Each month SpendingPulse will provide a comprehensive snapshot of UK retail sales performance and trends, ahead of official UK Government data. The SpendingPulse report is based on estimates of retail payments including cash and cheque volumes together with adjusted spending information based on aggregated sales activity through the MasterCard network.
SpendingPulse will be available approximately 7 to 10 days before the publication of official Office of National Statistics (ONS) month-to-month UK retail sales performance.
"The launch of SpendingPulse in the UK means that, for the first time, a comprehensive and accurate alternative to the ONS retail sales data will be available, well in advance of the publication of official statistics," comments Kamalesh Rao, Director of Economic Research, MasterCard SpendingPulse. "This will provide fixed income traders, portfolio managers, and analysts with very timely, statistically significant readings of UK retail sales performance each month." Rao added, "The real value of SpendingPulse is shown by the speed, and accuracy of the data source. Our data shows high correlations to government statistics, but is available in a far timelier manner."
Launched in the United States in March 2006, SpendingPulse is one of the most frequently cited measures of the U.S. retail economy.