UK retail sales unexpectedly jump in August

Dhwani Mehta FXStreet

The office for National Statistics (ONS) published the UK’s retail trade report, which showed that the UK consumer spending surprised markets to the upside, rebounding sharply in the month of August.

The UK’s retail volumes came in at 1.0% in August m/m, while the annualized retail spending jumped sharply to 2.4%. Markets had estimated a 0.2% reading on a monthly basis; while a 1.1% print was expected on yearly basis.

Retail sales excluding volatile items such as fuel also surprised positively, arriving at 1.0% m/m and 2.8% y/y.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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