UK Retail Sales surprisingly fell in June

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Thursday, Jul 23 2015

Compared with May 2015, the quantity bought in the retail industry in the UK was estimated to have decreased by 0.2%, missing forecasts on 0.4% incline. Falls were reported by predominantly food stores, other stores, household goods stores and petrol stations. Average store prices (including petrol stations) fell by 2.9% in June 2015 compared with June 2014. This is the 12th consecutive month of year-on-year price falls with all store types reporting decreases. The largest contribution came once again from petrol stations which fell by 10.0%, the 22nd consecutive month of year-on-year falling prices in this store type.

In June 2015, the amount spent in the retail industry increased by 0.9% compared with June 2014, but decreased by 0.1% compared with May 2015. Non-seasonally adjusted data show that the average weekly spend in the retail industry was £7.1 billion, unchanged from the previous month and the June 2014 figure. The value of sales made online in June 2015 increased by 1.4% compared with May 2015 and accounted for 12.4% of all retail sales. Online sales increased by 11.4% compared with June 2014.

After the data Sterling fell and is currently being traded around 1.56 handle. Pair is likely to find support around 1.5550 level and resistance above 1.5660 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.

More in this category: « NAB Business Confidence up to 4 in Q2 Unemployment Claims decreased to 255,000 »

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