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UK Retail Sales decreased by 0.2%

Thursday, Sep 15 2016

In August 2016, the quantity bought (volume) of retail sales is estimated to have increased by 6.2% compared with August 2015; all store types except textile, clothing and footwear, and household goods showed growth with the main contribution coming from food stores. The quantity bought decreased by 0.2% compared with July 2016; the largest contribution to the decrease came from non-food stores which was offset by increases in non-store retailing, predominantly food stores and petrol stations.

The underlying pattern in the retail sector is still one of growth with the 3 month on 3 month movement in the quantity bought increasing by 1.6%. The amount spent (value) in the retail industry increased by 4.1% compared with August 2015 and decreased by 0.5% compared with July 2016. The amount spent online increased by 18.5% compared with August 2015 and increased by 0.4% compared with July 2016.

 

Sterling is currently being traded around 1.32 handle. Pair is likely to find support around 1.3140 level and resistance above 1.3250 area. 

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