The UK retail sales fell 4.9% year-on-year in April, moderating the estimated 7.2% decline. This is the first drop after three consecutive months of increases and the biggest drop seen since January 2021. The March figure was positively revised, going from +0.9% to +1.3%.
Monthly retail sales grew 1.4%, improving the -0.2% expected and -1.2% from the previous month (revised from -1.4%). The indicator rises after two consecutive months of falls.
excluding fuel, annual retail sales decreased 6.1% vs. -8.4% forecast and -0.2% prior. The monthly indicator without fuel rose 1.4%, improving on the -0.9% in March and the -0.2% expected by the market.
GBP/USD reaction
The pound has reacted higher after the data, rising more than 20 pips against the dollar and rising to the 1.2496 zone, a new high for the day. At the time of writing, the GBP/USD It trades above 1.2495, gaining 0.23% daily.
Source: Fx Street
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