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MNI DATA IMPACT: UK Consumer Still Kicking in June>

By Laurie Laird and Irene Prihoda
     LONDON (MNI) - UK consumers appeared undaunted by Brexit 
uncertainty last month, as retail sales far outpaced expectations. 
     The following are the key points from retail sales data 
published Thursday by the Office for National Statistics. 
     - Sales volumes jumped by 1.0% between May and June, well above 
the MNI median forecast of a 0.3% decline, lifted by a 3.2% gain in 
"Other Store" sales, which includes charity shops and auction houses.
     - Every major retailing sector recorded growth last month, with 
the exception of department stores, which declined for a record-long 
sixth consecutive month. 
     - May sales were revised downward by 0.1pp to record a 0.6% 
fall, but second quarter volumes rose by 0.7%, leaving retail sales 
poised to add 0.04 percentage points to second quarter gross domestic 
product. 
     - Non-store retailing, largely composed of internet sales, rose by 
0.7% in June, but online transactions declined to a seasonally-adjusted 
18.9% of total sales from a record-high 19.3% in May. 
      - Retail price inflation accelerated to an annual rate of 0.6% 
from 0.4% in May, but remained well below the above-2% pace recorded 
over the first half of 2018. 
-London bureau: 44 (0) 203 865 3812; email: ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDS$]

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