UK June retail sales -0.1% vs -0.3% m/m expected

• Prior -0.5%; revised to -0.8%
• Retail sales -5.8% vs -5.3% y/y expected
• Prior -4.7%
• Retail sales ex fuel +0.4% vs -0.4% m/m expected
• Prior -0.7%; revised to -1.0%
• Retail sales ex fuel -5.9% vs -6.3% y/y expected
• Prior -5.7%

Retail sales volumes declined yet again in June but less than expected with the details showing that non-store retailing saw sales volumes fall by 3.7%, automotive fuel sales volumes declining by 4.3% and non-food stores sales volumes dropping by 0.7% on the month. This was offset by a rise in food sales volumes by 3.1% with retailers noting that increased sales were due to the Queen's Jubilee celebrations.

Despite the negative trend, retail sales are still 2.2% above the pre-pandemic i.e. February 2020 levels but are down on an annual basis as noted by the figures above.

/GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth Read this Term