UK Retail Sales jump 2.9% MoM in May vs. 1.5% expected
|- The UK Retail Sales rebounded 2.9% MoM in May, a big beat.
- Monthly Core Retail Sales for the UK jumped 2.9% in May.
- GBP/USD holds gains above 1.2650 after upbeat UK data.
The United Kingdom (UK) Retail Sales rebounded 2.9% over the month in May after falling 1.8% in April, the latest data published by the Office for National Statistics (ONS) showed Friday. Markets predicted a 1.5% uptick in the reported month.
The Core Retail Sales, stripping the auto motor fuel sales, rose 2.9% MoM, against the previous decline of 1.4% and the market forecast of 1.3%.
The annual Retail Sales in the UK rose 1.3% in May versus April’s 2.3% drop while the Core Retail Sales increased by 1.2% in the same month versus -2.5% previous. Both figures outpaced expectations.
Market reaction to UK Retail Sales report
GBP/USD picks up fresh bids on strong UK data release, up 0.10% on the day to trade near 1.2670, as of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.