Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK retail sales were mixed in June, as a modest improvement in food sales over the Jubilee weekend ran into weaker petrol sales, the Office for National Statistics said Friday. Overall sales by volume fell 0.1% m/m, down 5.8% on the year, while ex-fuel, sales rose 1.4% y/y.
“After taking account of rising prices, retail sales fell slightly in June and although they remain above their pre-pandemic level, the broader trend is one of decline," Heather Bovill, ONS Deputy Director for Surveys and Economic Indicators said.
Food store sales were the only sector to see an increase in the month, the data highlight, linked largely to an upswing early in the month for the 4-day holiday weekend. Bovill noted that retailers said consumers were cutting back on spending due to higher prices and concerns around affordability. Overall, sales fell 1.2% on the three months to June and the ONS said it would have a -0.06 percentage point impact on Q2 GDP.
“After taking account of
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.