UK retail sales fell by 1.4% in March, compared to a decline of about 0.5% in February’s revised reading of 0.3%, while it was expected to decline by about 0.3%.
The largest contribution to the decline in March came from retail trade outside stores, which fell by 7.9% in March, while sales of food stores also declined by 1.1%, and non-food stores decreased by 1.3%, while sales of motor fuels declined by 3.8%.
The British pound is trading down more than 100 pips this morning, Friday, at 1.2900 levels, affected by these numbers in addition to the strong rises of the US dollar.
02/11/2024
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