20.07.201704:43:00UTC+00UK Retail Sales Recover In June

UK retail sales recovered at a faster than expected pace in June, data from the Office for National Statistics revealed Thursday.

Retail sales grew 0.6 percent month-on-month in June, reversing a 1.1 percent fall in May. Sales were forecast to gain 0.4 percent.

Excluding auto fuel, retail sales climbed climbed 0.9 percent, in contrast to a 1.5 percent decrease in the previous month. Economists had forecast a 0.5 percent increase.

On a yearly basis, retail sales growth accelerated to 2.9 percent in June from 0.9 percent a month ago. This was also faster than the expected 2.5 percent.

Likewise, sales volume excluding auto fuel improved to 3 percent from 0.6 percent. Sales were forecast to grow 2.5 percent.