Investing.com – Retail sales in the United Kingdom fell more-than-expected in February, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales fell by a seasonally adjusted 0.8% in February, after rising by 1.5% in January, whose figure was revised down from 1.9%.
Analysts had expected retail sales to fall by 0.4% in February.
The report showed that year-on-year, retail sales rose at an annualized rate of 1.3% in February, after rising by 5.3% in January. Analysts had expected year-on-year retail sales to rise at an annualized rate of 2.4% in February.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD slumping 0.43% to hit 1.6165.
Meanwhile, European stock markets were up. The FTSE 100 rose 0.55%, the EURO STOXX 50 added 0.35%, France’s CAC 40 gained 0.27%, while Germany's DAX climbed 0.6%.
In a report, the U.K. Office for National Statistics said retail sales fell by a seasonally adjusted 0.8% in February, after rising by 1.5% in January, whose figure was revised down from 1.9%.
Analysts had expected retail sales to fall by 0.4% in February.
The report showed that year-on-year, retail sales rose at an annualized rate of 1.3% in February, after rising by 5.3% in January. Analysts had expected year-on-year retail sales to rise at an annualized rate of 2.4% in February.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD slumping 0.43% to hit 1.6165.
Meanwhile, European stock markets were up. The FTSE 100 rose 0.55%, the EURO STOXX 50 added 0.35%, France’s CAC 40 gained 0.27%, while Germany's DAX climbed 0.6%.