UK retail sales rise strongly in March

  • by Ahmed Mamdouh
  • April 18, 2019, 13:20 AM
  • 121 Views
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Retail sales in the United Kingdom showed an unexpected rise in March due mainly to a soar in spending at food stores and at non-store retailing, the Office for National Statistics reported.

Retail sales volume jumped 1.1 percent last month, compared to forecasts of 0.3 percent decrease, following a prior of 0.4 percent advance.

The annual reading showed a 6.7 percent surge, marking the biggest increase since October 2016, while sales were up 1.6 percent over the quarter through March.

“March’s mild weather boosted sales, with food shops also recovering after a weak February,” said ONS’s head of retail sales, Rhian Murphy.

The GBPUSD pair traded lower at 1.3011, compared to the session’s open at 1.3038, as of 09:17 GMT.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at Ofeed.com, with 11 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from the American University in Cairo and a Bachelor Degree in Economics from the Faculty of Economics and Political Science, Cairo University.

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