Retail sales in the United Kingdom have risen at a monthly rate of 0.5% in July, after a revised down 0.9% drop in June, data by the Office for National Statistics showed.The latest figure came in lin
UK retail sales recover in line with forecasts in July
Retail sales in the United Kingdom have risen at a monthly rate of 0.5% in July, after a revised down 0.9% drop in June, data by the Office for National Statistics showed.
The latest figure came in line with market consensus.
Sales at non-food stores rose 1.4% in July, mostly in department stores and sports equipment stores.
Non-store retail sales went up 0.7% in July, mostly driven by a rebound at retailers such as stalls, markets, vending machines etc.
At the same time, sales at food stores stalled, while automotive fuel sales shrank in July.
In annual terms, retail sales in the UK surged 1.4% in July, while rebounding after a 0.3% drop in June.
The British Pound was 0.45% stronger on the day against the US Dollar, with the GBP/USD currency pair last trading at 1.2905.
The major Forex pair was holding near a fresh three-week high of 1.2910.
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