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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.
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Free AccessUK Retail Sales Up in Jun
UK JUN RETAIL SALES +0.5% M/M; +9.7% Y/Y
UK JUN RETAIL SALES EX-FUEL +0.3% M/M; +7.4% Y/Y
UK MAY TOTAL SALES REVISED AT -1.3% M/M
UK JUN RETAIL SALES DEFLATOR +3.1% Y/Y; EX-FUEL +1.9% Y/Y
- UK retail sales increased by 0.5% in Jun, in contrast to markets looking for a flat reading (BBG: 0.0%). This follows a decrease in May which was driven by falling food sales. Nevertheless, sales are 9.5% above the pre-pandemic level.
- Annual sales registered at 9.7%, after rising sharply by 24.6 and coming in better than markets expected (BBG: 9.2%).
- Food and drink sales provided the largest upward contribution, rising by 4.2%, which is the highest level since Mar 2020. The ONS noted that sales were boosted by football fans enjoying the Euros.
- Non-food stores and particularly household goods stores declined in Jun, down by 1.7% and 10.9%, respectively, while non-store retailing fell for the second month in a row (-3.7%).
- Fuel sales rose by 2.3% in Jun, recording the fourth consecutive increase as people increased the amount of travel. However, the level of fuel sales remains 2.1% below the pre-pandemic level, the ONS noted.
- The proportion of online sales eased further in Jun to 26,7%, which is the lowest level since Mar 2020.
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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.