UK Retail Sales Rise In July; Biggest Since May 2008

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Thursday, the Office for National Statistics reported that UK retail sales rose 3.3% in July from a year earlier, which was the biggest since May 2008. July's increase was larger than the expected growth of 2.7%. On a monthly basis, retail sales volume grew 0.4%, in line with expectations.

Further, the ONS report showed that the seasonally adjusted value of retail sales increased 2.6% on a yearly basis in July. Meanwhile, the estimated total value of sales on an unadjusted basis was GBP 21.9 billion in July. The average weekly value of sales was GBP 5.5 billion.

Thursday, the Office for National Statistics reported that UK retail sales rose 3.3% in July from a year earlier, which was the biggest since May 2008. (Market News Provided by RTTNews)