- The UK Retail Sales came in at 0.3% MoM in December.
- Core Retail Sales for the UK rose b y0.4 % MoM in December.
- The cable hits fresh daily lows below 1.37 on dismal UK Retail Sales.
The UK retail sales came in at 0.3% over the month in December vs. 1.2% expected and -3.8% previous. The core retail sales, stripping the auto motor fuel sales, stood at 0.4% MoM vs. 0.8% expected and -2.6% previous.
On an annualized basis, the UK retail sales rose by 2.9% in December versus 4.0% expected and 2.4% prior while the core retail sales increased by 6.4% in the reported month versus 7.0% expectations and 5.6% previous.
Main points (via ONS)
“Clothing stores reported strong monthly growth of 21.5%, rebounding from a large fall in November 2020 when stores were closed because of coronavirus (COVID-19) restrictions.
“In 2020 as a whole, estimates of the quantity bought decreased by 1.9% when compared with 2019, the largest year-on-year fall on record.”
“Total online retailing values increased by 46.1% in 2020 when compared with 2019, the highest annual growth reported since 2008.”
The bearish pressure around the pound intensified on the downbeat UK Retail Sales data for December.
GBP/USD was last seen trading at daily lows of 1.3674, down 0.40% on the day.
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