UK retail sales rebound 1.0% m/m in June, surprises positively (GBP extends gains)

• The UK retail sales arrive at +1.0% m/m in June.
• The UK core retail sales jump by 0.9% m/m in June.

The UK retail sales came in at +1.0% over the month in June vs. -0.3% expected and -0.6% previous. The core retail sales stripping the auto motor fuel sales stood at +0.9% m/m vs. -0.2% expected and -0.4% previous.

On an annualized basis, the UK retail sales rose 3.8% in June versus 2.6% expected while the core retail sales also advanced 3.6% in the reported month versus 2.0% previous and 2.7% expectations.