UK June retail sales -1.2% vs -0.4% m/m expected

• Prior +2.9%
• Retail sales -0.2% vs +0.2% y/y expected
• Prior +1.3%; revised to +1.7%
• Retail sales (ex autos, fuel) -1.5% vs -0.5% m/m expected
• Prior +2.9%
• Retail sales (ex autos, fuel) -0.8% vs +0.2% y/y expected
• Prior +1.2%; revised to +1.6%

That’s a disappointing reading and once again reaffirms that household spending continues to suffer amid higher prices in the UK. The details show that food store sales were down 1.1% on the month, with department store sales down 3.4%, and other non-food store sales down 1.9%. Besides that, there were also drops for textile clothing & footwear (-1.6%), household goods (-2.1%), and non-store retailing (-1.1%).

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