UK Retail Sales Cool Off in August, YoY Sales Keep Increasing

Retail sales took a plunge in March and April, declining more than 23%  during the lockdown months. But they jumped higher by around 26% in May and June, while in July, they grew by 3.6%, which was revised higher to 3.7% today. But, they are cooling off now, increasing by just 0.6% in August. However, there were no summer beach holidays this year, so people didn’t spend much money on summer items. On the other hand, the YoY sales continue to increase, which is a positive sign.

UK August Retail Sales Report

• August retail sales 0.6% vs 0.7% expected
• July retail sales were +3.6%, revised to +3.7%
• Retail sales YoY  2.8% vs 3.0% expected
• July sales YoY 1.4%

• Core retail sales (ex autos, fuel) MoM 0.6% vs +0.4% expected
• Prior core sales were MoM +2.0%; revised to 2.1%
• Retail sales (ex autos, fuel) YoY + 4.3% vs +4.2% expected
• Prior sales YoY were +3.1%

The pent-up demand from lockdown, that has been showing itself in the data in recent months, is pulling back as expected. However, the GBP remains unfazed, as this data point is not in focus now.

ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

Silver Price Prediction: Will the $80.50 Floor Ignite a Massive Breakout to $100 as the "Sixth Deficit" Hits the Market?

2 hours ago

Save

Gold Price Prediction: Will the $5,000 Psychological Floor Hold as Technical “Death Cross” Threatens $4,900?

2 hours ago

Save

Silver Price Forecast: XAG Drops Below $80: Is a Move Toward $78 Next?

19 hours ago

Save