According to the latest data released by the Office for National Statistics (ONS) on Friday, retail sales in the United Kingdom fell 1.2%
month on month in July, compared to -0.5% projected and 0.6% previous. Core Sales, excluding vehicle motor fuel sales, decreased 1.4% MoM, compared to -0.7% projected and 0.7% forecast in June.
Annual Retail Sales in the United Kingdom fell 3.2% in July, compared to -2.1% predicted and a 1.6% drop in June, while Core Retail Sales fell 3.4% in the reported month, compared to -2.2% projected and -1.6% previously. The main points (according to ONS)
In July 2023, food store sales volumes declined by 2.6%, with supermarkets noting that the wet weather affected apparel sales, albeit food sales also fell; retailers noted that the rising cost of living and food costs continued to affect sales volumes.
Non-food store sales volumes declined 1.7% in July 2023, following a 0.6% increase in June 2023; retailers said that the drop was due to unfavorable weather, which reduced footfall.
Following a 0.6% drop in June 2023, automotive fuel shop sales increased by 0.7% in July 2023.
Non-store retail sales increased by 2.8% in July 2023, according to internet retailers, which said a variety of incentives boosted purchases.
UK Retail sales impacts on Market
GBPUSD is approaching daily lows. On the back of disappointing UK Sales data, the pair is trading near 1.2725. The price was last spotted at 1.2727, down 0.09% for the day.
