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U.K. retail sales rise less-than-expected in July

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Forexpros - Retail sales in the U.K. rose less-than-expected in July, official data showed on Thursday.

In a report, the U.K. Office for National Statistics said retail sales rose by 0.2% in July, below expectations for a 0.3% gain.

The previous month's figure was revised up to a gain of 0.8% from a previously reported 0.7% increase.

Year-over-year, retail sales were flat in July, disappointing expectations for a 0.3% gain.

According to the data, retail sales in predominantly non-food stores decreased by 1.1%, the first decline in this sector since January 2010.

The main upward pressure came from predominantly food stores which increased by 0.7% last month.

The value of U.K. retail sales in July totaled GBP26.0 billion, up from GBP24.9 billion pounds in the same month last year.

Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD edging down 0.1% to trade at 1.6525.

Meanwhile, European stock markets were broadly lower. The FTSE 100 declined 1.2%, the EURO STOXX 50 tumbled 1.55%, France's CAC 40 fell 1.45%, while Germany's DAX dropped 1.5%.

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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.

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