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UK retail sales volumes rose more than expected in June from the previous month, according to government data on Friday.
The Office for National Statistics said retail sales fell 1.0% annually in June, compared to a revised 2.3% decline in May. The market had been expecting a 1.5% fall, according to FXStreet-cited consensus.
May’s annual reading was first estimated at a 2.1% fall.
From the previous month, sales rose 0.7% in June, picking up speed from a downwardly revised 0.1% rise in May. June’s reading topped market consensus, which had forecast a 0.2% rise.
May’s increase was initially reported as 0.3%.
‘Food stores sales volumes bounced back with 0.7% growth in June 2023, following a fall of 0.4% in May 2023, with feedback from some supermarkets that the good weather and promotions helped sales,’ the ONS said.
Non-food stores sales volumes rose 1.0%, after a 0.5% fall in May. Department stores and furniture retailers said volumes were boosted by summer sales and increased footfall.
Excluding fuel, retail sales fell 0.9% annually in June, slowing from 1.9% decline in May. On a monthly basis, non-fuel sales rose 0.8%, having been flat in May.
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