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- UK retail sales rose more than expected in February. GBP/USD rose 60 pips after the release
UK retail sales rose more than expected in February. GBP/USD rose 60 pips after the release
Estimates of the quantity bought in retail sales increased by 3.7% compared with February 2016 and increased by 1.4% compared with January 2017; this monthly growth is seen across all store types.
The underlying pattern as suggested by the 3 month on 3 month movement decreased by 1.4% for the second month in a row; the largest decrease since March 2010 and only the second fall since December 2013.
Average store prices (including fuel) increased by 2.8% on the year, the largest growth since March 2012; the largest contribution came from petrol stations, where year-on-year average prices rose by 18.7%.
Online sales (excluding automotive fuel) increased year-on-year by 20.7% and by 3.3% on the month, accounting for approximately 15.3% of all retail spending.
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