FXStreet (Łódź) - James Knightley from ING points out that the UK July Retail Sales came in at 0.1% on a monthly basis, slightly lower than expected due to the considerable fall in auto fuel sales.

Key quotes



"However, there were some decent growth numbers in other components with food sales up 0.4%, clothing up 0.8% (helped by aggressive discounting as highlighted by yesterday’s CPI report) and 'non-specialised' and 'other stores' both seeing sales volumes rise in excess of 1% MoM."



"All in all this isn’t a bad outcome especially when we consider that consumer confidence fell quite sharply at the beginning of the month as the prospect of interest rate hikes made it onto the front pages of newspapers and TV bulletins."



"Nonetheless, with the economy continuing to add jobs in significant numbers and real household disposable income continuing to rise we remain upbeat on the outlook for retail sales."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    A Fundamental Push for Key EURUSD, GBPUSD and USDJPY Levels?

  2. Forex News

    EURUSD and GBPUSD Will Decide Make-or-Break In Holiday Trading Conditions

  3. Forex News

    FX: CFTC Commitments of Traders Report - TDS

  4. Forex News

    GBP/USD bulls need to catch their breath

  5. Forex News

    GBP/USD lid turn tighter on Yellen and dollar strength

Trading Center