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- UK Retail Sales rise 0.7% MoM in June vs. 0.2% expected
UK Retail Sales rise 0.7% MoM in June vs. 0.2% expected
- The UK Retail Sales came in at 0.7% MoM in June, beating estimates.
- Core Retail Sales for the UK jumped 0.8% MoM in June.
- GBP/USD regains 1.2900 on upbeat UK retail trade data.
On a monthly basis, UK Retail Sales rose 0.7% in June vs. 0.2% expected and 0.1% prior, according to the latest data published by the Office for National Statistics (ONS) on Friday. The Core Retail Sales, stripping the auto motor fuel sales, jumped 0.8% MoM vs. 0.1% expected and 0% seen in May.
The annual Retail Sales in the United Kingdom decreased 1.0% in June versus -1.5% expected and May’s 2.3% decline while the Core Retail Sales dropped 0.9% in the reported month versus -1.6% expectations and -1.9% previous.
Main points (via ONS)
Non-food stores sales volumes rose by 1.0% in June 2023, following a fall of 0.5% in May 2023; department stores and furniture retailers reported that summer sales and increased footfall helped boost volumes.
Food stores sales volumes bounced back with 0.7% growth in June 2023, following a fall of 0.4% in May 2023, with feedback from some supermarkets that the good weather and promotions helped sales.
Non-store retailing sales volumes rose by 0.2% in June 2023, following a rise of 2.4% in May 2023.
Automotive fuel stores sales volumes fell by 0.3% in June 2023, following a rise of 1.7% in May 2023.
FX implications
GBP/USD is picking up fresh bids on the upbeat UK Retail Sales data. The spot was last seen trading at 1.2894, up 0.25% on the day.
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