The Retail sales fell 0.9% in the UK last August, disappointing the 0.5% rise expected by the market. This is the second consecutive month of decreases for the indicator, which in July fell by 2.5%.
The annual retail sales stood at 0%, well below the expected 2.7% increase and the 2.4% growth of the previous month. This is the worst result seen by the data since February.
Excluding fuel, the indicator fell 1.2% monthly compared to + .08% expected. The result moderates the sharp decline of 2.4% seen in July. Year-on-year, the decline was 0.9%, its first drop in six months. The data notably worsens the estimated rise of 2.5%.
GBP / USD reaction
GBP / USD has reacted to the weak UK retail sales data with a downward correction of just over 10 pips to 1.3795. The pair had previously touched a daily low of 1.3783 and a high of 1.3809 in the Asian session. At time of writing, the pair is trading above 1.3802, gaining 0.06% on the day.
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