The UK retail sales up 1.2% in the monthly reading for October, notably exceeding the expected 0%. The September result was revised to 1.4% from 1.5%, with October being the sixth consecutive month with increases.
YoY Retail Sales increased 5.8%, above the 4.2% forecast and 4.6% in September (revised from 4.7%). October’s rise is the fourth in a row for the indicator and the highest since March 2019.
The retail sales excluding fuel increased 1.3% monthly, above the estimated 0.1%, and two tenths below the previous 1.5%. Annually, the indicator grew 7.8%, improving the 5.9% forecast and the 6.4% previously.
GBP / USD reaction
The pound has reacted to the data with a small rally that has led it to touch new two-day highs at 1.3287 against the dollar, although minutes later there has been no continuity. At time of writing, GBP / USD is trading above 1.3277, gaining a slight 0.02% on the day.
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