UK: Retail Sales Increase by 0.5% in June, GBP/USD Retreats

UK retail sales rose 0.5% in June versus expectations of 0.4% and -1.3% from the previous month. Core retail sales, which excludes auto fuel sales, came in at 0.3% m/m vs. expected 0.6% and -2.0% from the previous month.

Yearly, UK retail sales rose 9.7% in June versus expected 9.6% and 24.6% previously, while core retail sales rose 7.4% in the reported month versus 8.2% forecast and 21.7% previously.

Retail sales are up 9.5% compared to pre-coronavirus levels for February 2020. The biggest contributing factor to the rise in monthly retail sales in June 2021 was from food stores where sales volumes were.

GBP/USD was trading lower on UK retail sales data, at 1.3754 levels today.