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U.K. retail sales rise more-than-expected in October

Published 11/18/2010, 04:41 AM
GBP/USD
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Investing.com – Retail sales in the United Kingdom increased more-than-expected in October, rising for the first time in three months, official data showed on Thursday.

In a report, the U.K. Office for National Statistics said retail sales rose by a seasonally adjusted 0.5% in October, after falling by 0.5% in September, whose figure was revised upwards from a decline of 0.2%.

Analysts had expected retail sales to rise by 0.2% in October.

The report said the largest increase in sales came in the textile, clothing and footwear stores.

Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.23% to hit 1.5945.

Meanwhile, European stock markets were up. The FTSE 100 rose 1.29%, the EURO STOXX 50 added 1.53%, France’s CAC 40 gained 1.55%, and Germany's DAX soared 1.38%.

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