Investing.com – Retail sales in the U.K. fell more-than-expected in November, declining for the first time in three months, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales fell by a seasonally adjusted 0.4% in November, disappointing expectations for a 0.3% decline.
Retail sales for October were revised up to a 1.0% gain from a previously reported 0.6% increase.
Year-on-year, retail sales rose at an annualized rate of 0.7% in November, above expectations for a 0.4% increase, after rising at a rate of 1.1% in the preceding month.
Core retail sales, which exclude automobile sales, rose 0.5%, beating expectations for a 0.3% gain.
Following the release of the data, the pound pared gains against the U.S. dollar, with GBP/USD easing up 0.1% to trade at 1.5484.
Meanwhile, European stock markets came off their earlier highs. The FTSE 100 added 0.2%, the EURO STOXX 50 gained 0.35%, France’s CAC 40 rose 0.4%, while Germany's DAX advanced 0.5%.
In a report, the U.K. Office for National Statistics said retail sales fell by a seasonally adjusted 0.4% in November, disappointing expectations for a 0.3% decline.
Retail sales for October were revised up to a 1.0% gain from a previously reported 0.6% increase.
Year-on-year, retail sales rose at an annualized rate of 0.7% in November, above expectations for a 0.4% increase, after rising at a rate of 1.1% in the preceding month.
Core retail sales, which exclude automobile sales, rose 0.5%, beating expectations for a 0.3% gain.
Following the release of the data, the pound pared gains against the U.S. dollar, with GBP/USD easing up 0.1% to trade at 1.5484.
Meanwhile, European stock markets came off their earlier highs. The FTSE 100 added 0.2%, the EURO STOXX 50 gained 0.35%, France’s CAC 40 rose 0.4%, while Germany's DAX advanced 0.5%.