- UK Retail Sales came in at -0.1% MoM in June, improving estimates
- UK core retail sales rose 0.4% mom in June.
UK retail sales came in at -0.1%m/m in Junevs. -0.3% expected and -0.8% prior. Core retail sales excluding auto fuel sales came in at 0.4% MoM vs. -0.4% expected and -1.0% prior.
In annualized terms, UK retail sales plunged -5.8% in Junevs. -5.3% expected and -4.7% prior, while core retail sales fell -5.9% in the reported month, versus -6.3% expected and -5.5% prior.
Main points (via ONS)
Non-specialized retail sales volume (predominantly online) fell by 3.7% in June 2022; sales volume was 20.8% above its February 2020 levels.
Automobile fuel sales volumes fell 4.3% in June 2022, with retailers suggesting the drop was related to record gasoline and diesel prices, which affected how much fuel people bought.
The sales volume of non-food stores fell 0.7% in the month due to falls in clothing stores (negative 4.7%) and household items stores (negative 3.7%), such as furniture stores .
Food sales volume rose 3.1%, with retailers confirming that the increase in sales was due to the Queen’s Jubilee celebrations.
Source: Fx Street
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