Investing.com - Retail sales in the U.K. were flat in November, disappointing expectations for a slight increase, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales were flat in November, compared to expectations for a 0.3% increase.
Retail sales for October were revised down to a 0.7% decline from a previously reported fall of 0.6%, the largest drop in six months.
Year-on-year, retail sales rose at an annualized rate of 0.9% in November, below expectations for a 1.5% increase, after rising at a revised rate of 0.8% in the preceding month.
Core retail sales, which exclude automobile sales, rose 0.1% last month, disappointing expectations for a 0.4% gain, after falling 0.5% in October.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD easing up 0.09% to trade at 1.6261.
Meanwhile, European stock markets held steady. London’s FTSE 100 was little changed, the EURO STOXX 50 was flat, France’s CAC 40 dipped 0.1%, while Germany's DAX shed 0.1%.
In a report, the U.K. Office for National Statistics said retail sales were flat in November, compared to expectations for a 0.3% increase.
Retail sales for October were revised down to a 0.7% decline from a previously reported fall of 0.6%, the largest drop in six months.
Year-on-year, retail sales rose at an annualized rate of 0.9% in November, below expectations for a 1.5% increase, after rising at a revised rate of 0.8% in the preceding month.
Core retail sales, which exclude automobile sales, rose 0.1% last month, disappointing expectations for a 0.4% gain, after falling 0.5% in October.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD easing up 0.09% to trade at 1.6261.
Meanwhile, European stock markets held steady. London’s FTSE 100 was little changed, the EURO STOXX 50 was flat, France’s CAC 40 dipped 0.1%, while Germany's DAX shed 0.1%.