20.09.201804:52:00UTC+00UK Retail Sales Rise Unexpectedly In August

UK retail sales grew unexpectedly in August, figures from the Office for National Statistics revealed Thursday.

Retail sales volume, including auto fuel, gained 0.3 percent month-on-month in August, slower than the 0.9 percent increase seen in July and in contrast to the expected fall of 0.2 percent. This was the second consecutive rise in sales volume.

Sales excluding auto fuel, also advanced 0.3 percent after rising 1.1 percent a month ago, while economists had forecast a 0.2 percent fall.

On a yearly basis, retail sales volume growth slowed to 3.3 percent from 3.8 percent in July. Nonetheless, the pace of increase exceeded the expected 2.3 percent.

Similarly, excluding auto fuel, retail sales climbed 3.5 percent after rising 4 percent in the previous month. Economists had forecast a 2.4 percent rise.