UK Retail Sales increased by 1.6%

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Thursday, Dec 18 2014

UK Retail Sales beat market expectations on 0.3% increase and increased by 1.6% compared with October 2014. There was growth in all main store types for the first time since December 2013.

Average store prices fell by 2.0% in November 2014 compared with November 2013, this was the largest fall since August 2002 when prices also fell by 2.0%. The largest contribution to the year-on-year fall once again came from petrol stations, however, prices in food stores showed their largest fall since June 2002, decreasing by 1.0%.

In November 2014, the amount spent in the retail industry increased by 4.3% compared with November 2013 and by 1.2% compared with October 2014. Non-seasonally adjusted data show that the average weekly spend in the retail industry in November 2014 was £7.9 billion compared with £7.5 billion in November 2013 and £7.1 billion in October 2014.

After the data, Sterling was pushed higher and is currently being traded few points above 1.5630 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures will be released.

More in this category: « Ifo Business Climate Index rose to 105.5 points Unemployment Claims decreased to 289,000 »

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