British retail sales drop 1.3%

On Thursday, retail sales in Great Britain reported a larger than expected decline for the last month.   

In its post, British Office for National Statistics informed that the UK’s retail sales dipped 1.3% in March.

Financial experts had expected that last month retail sales would edge down just 0.1%.

Year-on-year retail sales surged 2.7% compared to February’s 3.6% revenue, that got revised from the first reading of a 3.8% profit.  

Core retail sales, excluding car sales, edged down 1.6% for the month, compared to February’s previous value of -0.3%, which was revised from the first 0.2% dip.    

Analysts relished a though that core retail sales would went down 0.4% last month.

In March, year-on-year core retail sales soared 1.8%, compared the previous outcome + 3.7%.   

Following this data, British pound dropped. The currency pair GPB/USD decreased from 1.4325 to 1.4314 ahead of the data issue. Meanwhile, EUR/GPB surged from 0.7882 to 0.7889.     

By the way, European stock markets demonstrated mixed performance. The FTSE 100 closed -0,3%, French CAC 40 dipped 0,07%, the Euro Stoxx 50 acquired 0.13% and German DAX ended up +0.2.  

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