UK Retail Sales Rise, Pound Weakens
Retail sales in the United Kingdom rose 0.4% month-on-month in December, after falling 0.1% in November, according to the latest data from the Office for National Statistics (ONS). This figure was better than market expectations of a 0.1% decline.
On an annual basis, retail sales rose 2.5% in December, higher than the previous 1.8% increase and exceeding market expectations of 1.0%. Core retail sales, which exclude motor fuel, also rose 0.3% month-on-month and 3.1% year-on-year, indicating strong consumer activity.
Despite the positive data, the pound sterling failed to strengthen, with the GBP/USD pair falling 0.06% to 1.3488. Investors appeared to be more focused on global and geopolitical factors, so the upbeat retail sales report was not enough to boost the British currency. (az)
Source: Newsmaker.id
