Market updates on July 16
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British retail sales revive in June, surpassing expectations
In June, British retail sales grew more than expected, reviving moderately from the previous month’s dip and spurring optimism over the UK economy, as official data disclosed on Thursday.
UK Office for National Statistics informed that in June retail sales tacked on by 0.6% from the previous month, contradicting the previous 1.1% sag that was revised from an initial 1.2% tumble.
Financial experts expected June’s reading to soar by 0.4%.
Additionally, the previous month year-on-year, retail sales inched up 2.9%, compared to forecasts for surge of 2.5% as well as May’s 0.9% leap.
Core retail sales, excluding car sales and fuel, grew by 0.9% in June, in contrast with the previous 1.5% sag that was revised upwards from an initial decrease of 1.6%.
Experts had expected core retail sales to inch up by 0.5% the previous month.
Meanwhile, EU equities traded higher. For instance, in London FTSE 100 grew 0.45%. Additionally, the Euro Stoxx 50 edged up 0.77%, Germany's DAX surged 0.67% and France's CAC 40 jumped 0.55%.
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