Investing.com – Retail sales in the United Kingdom rose unexpectedly in March, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales rose by a seasonally adjusted 0.2% in March, after falling by -0.9% in February, whose figure was revised from a decline of -0.8%
Analysts had expected retail sales to fall by -0.5% in March.
The report showed that year-on-year, retail sales rose at an annualized rate of 1.3% in March, after rising by 1.1% in February. Analysts had expected year-on-year retail sales to rise at an annualized rate of 1.0%.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD jumping 0.77% to hit 1.6534.
Meanwhile, European stock markets were higher. The FTSE 100 rose 0.2% higher, the EURO STOXX 50 added 0.4%, France’s CAC 40 gained 0.32%, while Germany's DAX climbed 0.57%.
In a report, the U.K. Office for National Statistics said retail sales rose by a seasonally adjusted 0.2% in March, after falling by -0.9% in February, whose figure was revised from a decline of -0.8%
Analysts had expected retail sales to fall by -0.5% in March.
The report showed that year-on-year, retail sales rose at an annualized rate of 1.3% in March, after rising by 1.1% in February. Analysts had expected year-on-year retail sales to rise at an annualized rate of 1.0%.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD jumping 0.77% to hit 1.6534.
Meanwhile, European stock markets were higher. The FTSE 100 rose 0.2% higher, the EURO STOXX 50 added 0.4%, France’s CAC 40 gained 0.32%, while Germany's DAX climbed 0.57%.