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U.K. retail sales rise 0.1% in July

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Investing.com -

Investing.com - Retail sales in the U.K. rose less than expected in July, dampening optimism over the country's economic outlook, official data showed on Thursday.

In a report, the U.K. Office for National Statistics said retail sales increased by a seasonally adjusted 0.1% last month, below forecasts for a 0.4% gain. June retail sales increased by 0.2%.

Year-on-year, retail sales rose at an annualized rate of 2.6% in July, below expectations for a 3% gain, after rising at a rate of 3.4% in June.

Core retail sales, which exclude automobile sales, increased by a seasonally adjusted 0.5% last month, compared to forecasts for a 0.4% gain, after falling 0.1% in the preceding month.

Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.14% to trade at 1.6572, compared to 1.6587 before the data.

Meanwhile, European stock markets were higher. London's FTSE 100 tacked on 0.25%, the DJ Euro Stoxx 50 rose 0.7%, France's CAC 40 inched up 0.6%, while Germany's DAX advanced 0.4%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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