Retail sales data out of the UK has rained on the parade enjoyed by the sterling pound up to that point.
Lower than expected retail sales for the month of August marks a digression from the wave of positive economic data that led the Bank of England (BoE) to take on an optimistic tone in the meeting minutes released on Wednesday.
Retail sales volumes fell 0.9% on the month, disappointing economists who had expected a rise of 0.4%, and down from a 1.1% gain in July. Meanwhile, the annual rate of growth slowed to 2.1% from 3.0%. The previous month's figure was reported to be boosted by hot weather.
LiveCharts
Lower than expected retail sales for the month of August marks a digression from the wave of positive economic data that led the Bank of England (BoE) to take on an optimistic tone in the meeting minutes released on Wednesday.
Retail sales volumes fell 0.9% on the month, disappointing economists who had expected a rise of 0.4%, and down from a 1.1% gain in July. Meanwhile, the annual rate of growth slowed to 2.1% from 3.0%. The previous month's figure was reported to be boosted by hot weather.
LiveCharts
