UK August retail sales +1.0% vs +0.4% m/m expected

• Prior +0.5%; revised to +0.7%
• Retail sales +2.5% vs +1.4% y/y expected
• Prior +1.4%; revised to +1.5%
• Retail sales (ex autos, fuel) +1.1% vs +0.5% m/m expected
• Prior +0.7%; revised to +1.0%
• Retail sales (ex autos, fuel) +2.3% vs +1.1% y/y expected
• Prior +1.4%

UK retail sales beat on estimates again in August with a rise in almost all categories. Some supermarkets and clothing retailers reported a boost because of warmer weather and end-of-season sales. And looking to sales volumes in the three months to August, that is seen up 1.2% when compared with the three months to May.

Overall, it’s a positive picture to wrap up the summer period in the UK. That will help to give the BOE more breathing room in keeping rates higher for the time being.

GBP/USD nudges up slightly to 1.3305 now, up 0.2% on the day.

This article was written by Justin Low at www.forexlive.com.