Investing.com – Retail sales in the U.K. fell broadly in line with expectations in August, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales fell by 0.2% in August, broadly in line with expectations, after rising by 0.2% in the preceding month.
Year-on-year, retail sales were flat in August, beating expectations for a 0.1% decline.
Core retail sales, which exclude automobile sales, fell less-than-expected, dipping 0.1%, compared to expectations for a 0.2% drop.
The ONS said it could not quantify the effect of the U.K. riots on retail sales: some stores benefited, others lost trade.
Following the release of that data, the pound edged higher against the U.S. dollar, with GBP/USD gaining 0.17% to trade at 1.5796.
Meanwhile, European stock markets were up sharply. The FTSE 100 jumped 1.6%, the EURO STOXX 50 rallied 2%, France’s CAC 40 rose 1.9%, while Germany's DAX surged 2.1%.
In a report, the U.K. Office for National Statistics said retail sales fell by 0.2% in August, broadly in line with expectations, after rising by 0.2% in the preceding month.
Year-on-year, retail sales were flat in August, beating expectations for a 0.1% decline.
Core retail sales, which exclude automobile sales, fell less-than-expected, dipping 0.1%, compared to expectations for a 0.2% drop.
The ONS said it could not quantify the effect of the U.K. riots on retail sales: some stores benefited, others lost trade.
Following the release of that data, the pound edged higher against the U.S. dollar, with GBP/USD gaining 0.17% to trade at 1.5796.
Meanwhile, European stock markets were up sharply. The FTSE 100 jumped 1.6%, the EURO STOXX 50 rallied 2%, France’s CAC 40 rose 1.9%, while Germany's DAX surged 2.1%.