U.K. June Retail Sales Grow Less Than Forecast
U.K. retail sales increased at a slower than expected pace in June, the Office for National Statistics said Thursday.
Including automotive fuel, retail sales grew only 0.1 percent month-on-month, slower than the 1.5 percent rise in May and 0.6 percent growth forecast by economists.
Excluding automotive fuel, sales were up 0.3 percent. Economists were forecasting sales to grow 0.4 percent after logging 1 percent expansion in the prior month.
On a yearly basis, retail sales including automotive fuel rose at a slower pace of 1.6 percent in June, following a 2.1 percent rise in May. Likewise, excluding automotive fuel, growth eased to 2.2 percent from 2.7 percent.
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