The UK retail sales grew 1.5% in September, surpassing the 0.8% increase in August and the 0.4% rise expected by the market. This is the fifth consecutive month of increases for the indicator.
Annually, Retail sales increased 4.7%, improving from 2.8% previously and 3.7% expected. The annual indicator grows for the third consecutive month and shows its highest rise since April 2019.
Retail sales excluding fuel rose 1.6%, above the 0.6% of the previous month and the estimated 0.5%. The year-on-year indicator grew by 6.4% compared to 4.3% in August and the forecast 5%, registering the largest increase seen since October 2016.
GBP / USD reaction
The pound has been unable to react to the upside after the retail sales data, since at this time it suffers the climate of risk aversion in the markets and the consequent resurgence of the dollar.
At the time of writing, the GBP/USD it falls to fresh two-day lows at 1.3050, shedding 0.23% on the day.
Credits: Forex Street
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