Investing.com – Retail sales in the United Kingdom rose more-than-expected in April, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales rose by a seasonally adjusted 1.1% in April, after rising by 0.3% in March, whose figure was upwardly revised from a gain of 0.2%.
Analysts had expected retail sales to rise by 1% in April.
The report showed that year-on-year, retail sales rose at an annualized rate of 2.7% in April, after rising by 0.8% in March. Analysts had expected year-on-year retail sales to rise at an annualized rate of 2.2%.
All sectors showed year on year volume and value growth apart from household goods stores. According to the report, possible reasons for this growth were the royal wedding and warm weather.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD edging 0.07% higher to hit 1.6179.
Meanwhile, European stock markets were higher. The FTSE 100 climbed 0.6%, the EURO STOXX 50 added 0.35%, France’s CAC 40 gained 0.45%, while Germany's DAX jumped 0.61%.
In a report, the U.K. Office for National Statistics said retail sales rose by a seasonally adjusted 1.1% in April, after rising by 0.3% in March, whose figure was upwardly revised from a gain of 0.2%.
Analysts had expected retail sales to rise by 1% in April.
The report showed that year-on-year, retail sales rose at an annualized rate of 2.7% in April, after rising by 0.8% in March. Analysts had expected year-on-year retail sales to rise at an annualized rate of 2.2%.
All sectors showed year on year volume and value growth apart from household goods stores. According to the report, possible reasons for this growth were the royal wedding and warm weather.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD edging 0.07% higher to hit 1.6179.
Meanwhile, European stock markets were higher. The FTSE 100 climbed 0.6%, the EURO STOXX 50 added 0.35%, France’s CAC 40 gained 0.45%, while Germany's DAX jumped 0.61%.