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UK Retail Sales fell by 0.3%

Friday, Feb 20 2015

While analysts were forecasting 0.1% decrease in UK Retail Sales latest figures showed 0.3% fall. There was a significant increase in the quantity bought in petrol stations and department stores but this did not negate the downwards pressure from predominantly food stores, textile, clothing and footwear and other stores.

Separate report on Public Sector Net Borrowing showed 9.4 billion pounds deficit in line with market forecasts. While the deficit in 2013/14 has fallen by a third since its peak in 2009/10, public sector net debt has maintained a gradual upward trend, being £1,464.0 billion, or 79.6% of GDP at the end of January 2015.

 

After the data was released, Sterling was pushed lower and is currently being traded few points above 1.15350 level. Pair is likely to find support around 1.5330 handle and resistance above 1.5430 level. Later today,in the US session Manufacturing PMI figures are scheduled for a release.

More in this category: « Mixed Eurozone PMI figures Is ECB ready for Greek exit from Eurozone? »

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