UK Retail Sales rebound 1.4% MoM in April vs. -0.2% expected
|- The UK Retail Sales came in at 1.4% MoM in April, an upside surprise.
- Core Retail Sales for the UK rose by 1.4% MoM in April.
- The cable closes in on 1.2500 on the upbeat UK data.
The UK retail sales arrived at 1.4% over the month in April vs. -0.2% expected and -1.2% previous. The core retail sales, stripping the auto motor fuel sales, stood at 1.4% MoM vs. -0.2% expected and -0.9% previous.
On an annualized basis, the UK retail sales slumped 4.9% in April versus -7.2% expected and 1.3% prior while the core retail sales decreased by 6.1% in the reported month versus -8.4% expectations and -0.2% previous.
Main points (via ONS)
Food store sales volumes rose by 2.8% in April 2022, mostly because of higher spending on alcohol and tobacco in supermarkets; supermarket food sales were broadly unchanged.
Non-store retailing sales volumes, which are predominantly sales from online-only retailers, rose by 3.7% in April 2022 led by stronger clothing sales.
Automotive fuel sales volumes rose by 1.4% in April 2022 following a fall of 4.2% in March when record increases in petrol prices impacted sales.
Non-food stores sales volumes fell by 0.6% in April 2022 because of falls in other non-food stores (negative 3.3%) and household goods stores (negative 0.5%) such as furniture stores.
FX implications
GBP/USD edges a few pips higher on the UK Retail Sales upside surprise. The spot was last seen trading at 1.2485, up 0.19% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.