Forexpros – Retail sales in the U.K. rose slightly more-than-expected in June, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales rose by 0.7% in June, above expectations for a 0.6% gain.
The previous month’s figure was revised to a decline of 1.3% from a previously reported 1.4% drop.
Year-on-year, retail sales rose at an annualized rate of 0.4% in June, widely in line with expectations.
According to the data, retail sales in the food store sector slumped 4.2%, the largest fall on record since the series began in 1988.
The greatest upward pressure came from non-store retailing which rose by 24.4%, the largest rise on record for this sector.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD edging 0.15% higher to trade at 1.6178.
Meanwhile, European stock markets were broadly lower. The FTSE 100 declined 0.3%, the EURO STOXX 50 slipped 0.1%, France’s CAC 40 fell 0.3%, while Germany’s DAX slumped 0.55%.
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