UK retail sales retreated in June 2015
The UK retail sales retreated in June 2015 due to declines in demand of food, furniture, sports equipment and jewelry. The volume of sales, including fuel, fell by 0.2% compared to May 2015, while the economists expected a growth of 0.4%. The changes on year-on-year base of the UK retail sales in June 2015 grew […]
The UK retail sales retreated in June 2015 due to declines in demand of food, furniture, sports equipment and jewelry. The volume of sales, including fuel, fell by 0.2% compared to May 2015, while the economists expected a growth of 0.4%. The changes on year-on-year base of the UK retail sales in June 2015 grew with 4%. Excluding fuel, the trade fell by 0.2% mom, but rose with 4.2% yoy.
On annual basis retail sales remain strong and the growth reached 0.7% in Q2 2015, which was recorded the 28th consecutive quarterly increase and the longest series. The UK retail sales probably contributed 0.04 percentage points to overall economic growth during the period.
Constantly low inflation and strong wage growth leaves more free British capital, which helps to support demand. But the trend could change by the end of the year if the Bank of England take the long-awaited move by rising interest rates for the first time since the beginning of financial crisis in 2008.
