United Kingdom Retail Sales fall 1.3% MoM in April vs. -0.6% expected

Retail Sales, a key measure of consumer spending, in the United Kingdom (UK) fell 1.3% month-over-month (MoM) in April after rising by a revised 0.6% in March, the latest data published by the Office for National Statistics (ONS) showed on Friday.

The market forecast was for a 0.6% decline in the reported month.

The core Retail Sales, stripping the auto motor fuel sales, decreased by 0.4% MoM in April, compared with the previous increase of 0.1% (revised from 0.2%) and the estimated -0.3% figure. 

The annual Retail Sales in the UK came in at 0% in April versus a rise of 1.4% prior (revised from 1.7%) and 1.3% expectations.

The annual core Retail Sales rose 1.1% in the same month, against March’s 1.5% (revised from 1.7%). The reading came in below the consensus of 1.5%.

Market reaction to the UK Retail Sales report

The British Pound edges slightly lower in an initial reaction to the softer UK Retail Sales data. The GBP/USD pair is trading 0.05% lower on the day at 1.3423, as of writing.