Investing.com - Retail sales in the U.K. fell unexpectedly for the second consecutive month in April, underlining concerns over the country’s economic outlook, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said retail sales fell by a seasonally adjusted 1.3% in April, compared to expectations for a flat reading.
Retail sales fell by 0.6% in March, whose figure was upwardly revised from a 0.7% decline.
Year-on-year, retail sales rose at an annualized rate of 0.5% last month, missing expectations for a 2% gain, after fall at a rate of 0.5% in March.
Core retail sales, which exclude automobile sales, declined 1.4% in April, confounding expectations for a 0.1% increase, after falling 0.7% in the preceding month.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.4% to trade at 1.5089.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 shed 0.2%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 dipped 0.1%, while Germany's DAX was little changed.
In a report, the U.K. Office for National Statistics said retail sales fell by a seasonally adjusted 1.3% in April, compared to expectations for a flat reading.
Retail sales fell by 0.6% in March, whose figure was upwardly revised from a 0.7% decline.
Year-on-year, retail sales rose at an annualized rate of 0.5% last month, missing expectations for a 2% gain, after fall at a rate of 0.5% in March.
Core retail sales, which exclude automobile sales, declined 1.4% in April, confounding expectations for a 0.1% increase, after falling 0.7% in the preceding month.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.4% to trade at 1.5089.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 shed 0.2%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 dipped 0.1%, while Germany's DAX was little changed.