- MarketPulse - https://www.marketpulse.com -

UK Retail Sales Rise in July But Consumer Sentiment Remains Soft

U.K. retail sales rose more than forecast in July, driven by the biggest jump in purchases of food in almost two years.

The volume of goods sold increased 0.3 percent, just ahead of the 0.2 percent gain predicted by economists, the Office for National Statistics said Thursday. The increase in June was revised down to 0.3 percent from 0.6 percent, though the total for the second quarter was unrevised.

Sales in July were largely driven by food, and figures covering the past three months show how pressure on consumers from faster inflation is weighing on retailers. Annual growth in the quarter through July was 1.8 percent, the weakest in almost four years. Price increases have accelerated in the past year largely because of the pound’s decline since the Brexit vote.

Bloomberg [1]

Gold Soars As Oil Is Sent To The Naughty Corner [2]

Oops he did it again [3]

[4]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam [8]

Senior Market Analyst - UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

Latest posts by Craig Erlam (see all [8])