UK Retail Sales increased by 0.4%

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Friday, Jan 23 2015

UK Retail Sales increased by 0.4% compared with November 2014 following an increase in November of 1.6%. This was better than expected decrease by 0.6%. Some stores experienced better sales in November 2014 as a result of ‘Black Friday’ which may have reduced sales in December 2014.

Average store prices fell by 2.2% in December 2014 compared with December 2013. This was the largest fall since June 2002 when prices fell by 2.5%. The biggest contribution to the year-on-year fall once again came from petrol stations which fell by 9.7%, this was the largest year-on-year fall in this store type since July 2009 when it fell by 13.7%. Petrol prices are at their lowest level since October 2009 and diesel prices at their lowest since March 2010.

Sterling was little changed after the figures, currently being traded below 1.50 handle. Pair is likely to find support around 1.4950 area and resistance above 1.5030 level. Later today, in the US session Manufacturing PMI and Existing Hone Sales figures are scheduled for release.

More in this category: « Eurozone Manufacturing and Services PMI up in December Existing Home Sales rose less than expected »

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