23 Jul 2015
UK retail sales unexpectedly drop in May
FXStreet (Mumbai) - The UK Office for National Statistics (ONS) data released on Thursday showed the retail sales in May unexpectedly dropped 0.2% month-on-month in June, the markets were expecting a 0.3% rise.
Year-on-year retail sales growth slowed to 4.0%, missing the estimate of a 4.9% rise. Core retail sales fell 0.2% month-on-month.
As per the ONS report, Average store prices (including petrol stations) fell by 2.9% in June 2015 compared with June 2014. This is the 12th consecutive month of year-on-year price falls with all store types reporting decreases. The largest contribution came once again from petrol stations which fell by 10.0%, the 22nd consecutive month of year-on-year falling prices in this store type.
Year-on-year retail sales growth slowed to 4.0%, missing the estimate of a 4.9% rise. Core retail sales fell 0.2% month-on-month.
As per the ONS report, Average store prices (including petrol stations) fell by 2.9% in June 2015 compared with June 2014. This is the 12th consecutive month of year-on-year price falls with all store types reporting decreases. The largest contribution came once again from petrol stations which fell by 10.0%, the 22nd consecutive month of year-on-year falling prices in this store type.