UK Retail Sales fell more than expected

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Thursday, Apr 21 2016

Continuing a sustained period of year-on-year growth, the volume of retail sales in March 2016 is estimated to have increased by 2.7% compared with March 2015. This was the 35th consecutive month of year-on-year growth. The underlying pattern in the data, as suggested by the 3 month on 3 month movement in the quantity bought, showed growth for the 28th consecutive month, increasing by 0.8%.

Compared with February 2016, the quantity bought in the retail industry is estimated to have decreased by 1.3%. Analysts were anticipating 0.1% decrease. Average store prices (including petrol stations) fell by 3.0% in March 2016 compared with March 2015, the 21st consecutive month of year-on-year price falls. The amount spent in the retail industry decreased by 0.1% compared with March 2015 and decreased by 1.3% compared with February 2016

Sterling is currently being traded few points above 1.4310 level. Pair is likely to find support around 1.4250 handle and resistance above 1.4380 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.

More in this category: « NAB Business Conditions Survey shows optimistic view Unemployment Claims mark 59 consecutive weeks below 300,000 »

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