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U.K. Retail Sales rose by 0.7% in February

Thursday, Mar 26 2015
U.K Retail Sales increased by 0.7% compared with January 2015, beating predictions on 0.3% rise. All store types showed growth.Average store prices fell for the eighth consecutive month, falling by 3.6% in February 2015 compared with February 2014. This is the largest year-on-year fall since consistent records began in 1997. Once again the largest contribution to the year-on-year fall came from petrol stations, which fell by 15.5%, the largest year-on-year fall in this store type on record.
 
In February 2015, the amount spent in the retail industry increased by 2.2% compared with February 2014 and by 0.3% compared with January 2015. Non-seasonally adjusted data show that the average weekly spend in the retail industry in February 2015 was £6.6 billion, compared with £6.5 billion in February 2014 and £6.5 billion in January 2015.
 
After the data euro was pushed lower and is currently being traded few points below 1.4990 level. Pair is likely to find support around 1.4930 and resistance above 1.5050 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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