United Kingdom Retail Sales fall 1.3% MoM in April vs. -0.6% expected
Retail Sales, a key measure of consumer spending, in the United Kingdom (UK) fell 1.3% month-over-month (MoM) in April after rising by a revised 0.6% in March, the latest data published by the Office for National Statistics (ONS) showed on Friday.
The market forecast was for a 0.6% decline in the reported month.
The core Retail Sales, stripping the auto motor fuel sales, decreased by 0.4% MoM in April, compared with the previous increase of 0.1% (revised from 0.2%) and the estimated -0.3% figure.
The annual Retail Sales in the UK came in at 0% in April versus a rise of 1.4% prior (revised from 1.7%) and 1.3% expectations.
The annual core Retail Sales rose 1.1% in the same month, against March’s 1.5% (revised from 1.7%). The reading came in below the consensus of 1.5%.
Market reaction to the UK Retail Sales report
The British Pound edges slightly lower in an initial reaction to the softer UK Retail Sales data. The GBP/USD pair is trading 0.05% lower on the day at 1.3423, as of writing.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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