UK June retail sales +0.7% vs +0.2% m/m expected

<ul><li>Prior +0.3%; revised to +0.1%</li><li>Retail sales -1.0% vs -1.5% y/y expected</li><li>Prior -2.1%; revised to -2.3%</li><li>Retail sales (ex autos, fuel) +0.8% vs +0.2% m/m expected</li><li>Prior +0.1%; revised to 0.0%</li><li>Retail sales (ex autos, fuel) -0.9% vs -1.6% y/y expected</li><li>Prior -1.7%; revised to -1.9%</li></ul><p>There is a slight negative revision to the May readings but the June estimates are a considerable beat and that is helping to give the pound a brief lift (note how I say brief). Looking at the breakdown, food stores sales contributed 0.3% to retail sales growth on the month while non-food stores sales contributed 0.4%. Non-store retailing and fuel sales were flat on the month. Meanwhile, the divergence between retail sales volume and value continue to hold at a considerably large gap still:</p>

This article was written by Justin Low at www.forexlive.com.