UK Retail Sales down by 0.4%

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Thursday, Mar 24 2016

Year-on-year estimates of the quantity bought in the retail industry showed growth for the 34th consecutive month in February 2016, increasing by 3.8% compared with February 2015. The underlying pattern in the data, as suggested by the 3 month on 3 month movement in the quantity bought, showed growth for the 27th consecutive month, increasing by 0.8%.

Compared with January 2016, the quantity bought in the retail industry is estimated to have decreased by 0.4%. Analysts were forecasting decrease by 0.7%. Average store prices (including petrol stations) fell by 2.5% in February 2016 compared with February 2015, the 20th consecutive month of year-on-year price falls.

The amount spent in the retail industry increased by 1.4% compared with February 2015 and decreased by 0.7% compared with January 2016. The value of online sales increased by 12.3% in February 2016 compared with February 2015 and decreased by 1.0% compared with January 2016.

Sterling is currently being traded few points above 1.4080 level. Pair is likely to find support around 1.4050 handle and resistance above 1.4150 level. Later today, in the US session, Durable Goods Orders and Unemployment Claims figures are scheduled for a release.

More in this category: « German Consumer Sentiment fell to 9.4 points Durable Goods Orders decreased less than expected »

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