Forexpros – Retail sales in the U.K. rose less-than-expected in June, as wet weather hurt demand for outdoor products, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales inched up by a seasonally adjusted 0.1% in June, below expectations for a 0.6% gain.
Retail sales for May were revised up to a 1.5% gain from a previously reported increase of 1.4%.
Year-on-year, retail sales rose at an annualized rate of 1.6% in June, below expectations for a 2.4% increase, after rising at a rate of 2.1% in the preceding month.
Core retail sales, which exclude automobile sales, rose 0.3% in June, compared to expectations for a 0.4% increase, after climbing 1.0% in May.
The ONS said there was no evidence that the Jubilee Celebration boosted sales, while adding that wet weather brought forward seasonal clothing sales.
Following the release of the data, the pound trimmed gains against the U.S. dollar to trade little changed, with GBP/USD easing up 0.03% to trade at 1.5657.
Meanwhile, European stock markets held on to gains. The FTSE 100 edged up 0.15%, the EURO STOXX 50 rose 0.4%, France’s CAC 40 gained 0.4%, while Germany’s DAX advanced 0.55%.
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