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Food sales in UK up in August

Tuesday, Sep 08 2015
UK food retail sales decreased 1.0% on a like-for-like basis from August 2014, when they had increased 1.3% on the preceding year. On a monthly basis food sales were up by 0.4%. On a total basis, sales were up 0.1%, against a 2.7% rise in August 2014. In the three months to August, total Food sales were up 0.3%. The twelve-month average total Food growth turned positive for the first time since August 2014. Non-Food sales declined in August, for the first time since August 2014.
 
Helen Dickinson, Director General, British Retail Consortium, said: "There was better news for food sales this August with a clear improvement compared with July. This, coupled with a positive twelve month average for the first time since August of last year, suggests there may be cause for optimism for food sales following a prolonged period of stagnation. 
 
Sterling is currently being traded few points above 1.5310 level. Pair is likely to find support around 1.5250 handle and resistance above 1.5360 area. There will be no major data releases in the rest of the session.
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