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- UK retail sales rose more than expected in August. GBP/USD rally
UK retail sales rose more than expected in August. GBP/USD rally
In August 2017, the quantity bought (volume) in the retail sales industry increased by 1.0% compared with July 2017; with other non-food stores and non-store retailing as the main contributors to growth.
Compared with August 2016, the quantity bought increased by 2.4%; the 52nd consecutive month of year-on-year increase in retail sales.
Year-on-year contribution of food stores remains flat whilst there was a fall in the contribution of growth within petrol stations, showing that contributions to the overall growth came from non-essential items.
The underlying pattern in the retail industry is one of growth, three-months on three-months the quantity bought has increased by 1.2%.
Store prices increased across all store types on the year, with non-food stores and non-store retailing recording their highest year-on-year price growth since March 1992, at 3.2% and 3.3% respectively.
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