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$]