UK Retail Sales increased by 1.2% in April

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Thursday, May 21 2015

Compared with March 2015, the quantity bought in the retail industry, in the UK, is estimated to have increased by 1.2%. Analysts were forecasting smaller increase by 0.4%. All store types except predominantly food stores showed growth. Average store prices (including petrol stations) fell for the 10th consecutive month, falling by 3.2% compared with April 2014.

The largest contribution to the year-on-year fall once again came from petrol stations which fell by 11.5%, the 20th consecutive month of year-on-year falling prices in this store type. Continuing a sustained period of year-on-year growth, retail sales in April 2015 are estimated to have increased by 4.7% compared with April 2014. This was the 25th consecutive month of year-on-year growth, the longest period of sustained growth since May 2008 when there were 31 periods of growth.

After the data Sterling was pushed higher and is currently being traded few points above 1.5630 level. Pair is likely to find support around 1.5550 area and resistance near 1.57 handle. Later today, in the US session, Unemployment Claims, Existing Home Sales and Philly Fed Manufacturing Index data is scheduled for a release.

More in this category: « German PMI unexpectedly fell in May Unemployment Claims rose to 274,000 »

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