According to the most recent statistics released by the Office for National Statistics (ONS) on Friday, retail sales in the United Kingdom (UK) increased 1.2% month-over-month (MoM) in April after increasing 0.1% in March (reduced from 0.4%). In the reporting month, markets anticipated a 0.2% increase.
In contrast to the previously corrected growth of 0.2% and the projected 0.3% reading, core retail sales, excluding auto motor fuel sales, increased 1.3% month over month.
In the UK, core retail sales increased 5.3% in April compared to 2.6% in March, while yearly retail sales up 5.0% in April compared to 1.9% in March. Both readings exceeded the expectations of the market.
Response of the market to the UK Retail Sales report
The positive UK statistics immediately prompts some purchasers to purchase GBP/USD, which is currently trading 0.29% higher on the day at 1.3457.
In contrast to the previously corrected growth of 0.2% and the projected 0.3% reading, core retail sales, excluding auto motor fuel sales, increased 1.3% month over month.
In the UK, core retail sales increased 5.3% in April compared to 2.6% in March, while yearly retail sales up 5.0% in April compared to 1.9% in March. Both readings exceeded the expectations of the market.
Response of the market to the UK Retail Sales report
The positive UK statistics immediately prompts some purchasers to purchase GBP/USD, which is currently trading 0.29% higher on the day at 1.3457.
