UK Retail Sales Recover In July

RTTNews | 132 hari yang lalu

(RTTNews) - UK retail sales volume rebounded in July as summer discounting and the European football Championship boosted department stores and sports equipment stores sales.

Retail sales increased 0.5 percent on a monthly basis in July, following a revised 0.9 percent fall in June, the Office for National Statistics said Friday. Economists had forecast sales to grow 0.6 percent.

Excluding auto fuel, retail sales advanced 0.7 percent, in contrast to the 1.3 percent decrease in June.

Both annual and monthly growth figures matched economists' expectations.

The ONS said department stores and sports equipment stores reported a boost following summer discounts and sporting events.

Food store sales remained flat in July, while non-food store sales rebounded 1.4 percent.

Sales volumes advanced 1.4 percent in the year to July after poor weather impacted sales in July 2023. This follows a 0.3 percent decrease in June.

Retail sales volume excluding auto fuel also posted 1.4 percent annual increase after easing 0.8 percent in the previous month.

Capital Economics' economist Alex Kerr said if spending off the high street continued to hold up well, overall consumer spending may be more robust than the retail sales data imply.

The economist said that rising real incomes, as inflation falls, should mean consumer spending growth accelerates over the rest of this year.

RTTNews Economic Calendar helps you stay ahead of the curve and is updated in real-time. Get your Economic Calendar today and make data-driven decisions.

Teg: GBP

UK Economy Flatlines In Q3

The UK economy stalled in the third quarter as the services sector posted nil growth and the moderate expansion in construction was offset by the fall in industrial production, the Office for National Statistics reported Monday. Real gross domestic product remained flat in the third quarter, which was revised down from the 0.1 percent rise estimated initially. This follows a 0.4 percent expansion.

RTTNews | 3 hari yang lalu

UK Retail Sales Rise Less Than Forecast

UK retail sales grew for the first time in three months in November but the pace of expansion was weaker than expected as consumers were cautious in the wake of government's first budget. A closely watched survey showed that retailers reported a moderate fall in retail sales in December despite festive season and they forecast another decrease in January.

RTTNews | 5 hari yang lalu

UK Car Manufacturers Report Worst Production For November Since 1980

UK car production posted its sharpest decline for the month of November since 1980 largely reflecting weaker global demand, data published by the Society of Motor Manufacturers and Traders showed on Friday. Car production declined 30.1 percent on a yearly basis in November. This was the ninth consecutive decline.

RTTNews | 5 hari yang lalu

Bank Of England Holds Key Rate Steady; More Members Sought Reduction

The Bank of England decided to leave its benchmark rate unchanged on Thursday as majority of policymakers called for a gradual approach to the withdrawal of policy restrictiveness amid acceleration in inflation and wage growth, while the divide in the rate-setting body widened. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to hold the bank rate at 4.75 percent.

RTTNews | 6 hari yang lalu

UK Inflation Highest In 8 Months

UK consumer price inflation accelerated to an eight-month high in November, reinforcing the chances of the Bank of England deciding to keep the interest rate unchanged on Thursday. The consumer price index rose 2.6 percent year-on-year following a 2.3 percent gain in October, the Office for National Statistics reported Wednesday.

RTTNews | 7 hari yang lalu

UK Wage Growth Suggests Gradual Interest Rate Cuts

The UK wage growth accelerated more than expected in the three months to October supporting a case for more gradual interest rate reductions next year as pay increases could revive inflationary pressures. Excluding bonus, annual growth in average earnings came in at 5.2 percent compared to 4.9 percent in the three months to September, the Office for National Statistics said Tuesday.

RTTNews | 8 hari yang lalu

UK Private Sector Logs Steady Growth

The UK private sector logged a steady growth in December with rising activity across the services economy offsetting an accelerated downturn in manufacturing output, flash survey results from S&P Global showed on Monday. The flash composite output index posted 50.5 in December, unchanged from November's 13-month low.

RTTNews | 9 hari yang lalu

UK Economy Shrinks In October

The UK economy contracted marginally for the second straight month in October largely reflecting the fall in industrial production, official data revealed Friday. Real gross domestic product shrank unexpectedly 0.1 percent in October, the same pace of decline as in September, the Office for National Statistics reported. GDP was forecast to grow 0.1 percent.

RTTNews | 13 hari yang lalu

EURUSD	1.04008	GBPUSD	1.25465	AUDUSD	0.62427
USDJPY	157.369	USDCAD	1.43632	USDCHF	0.89962