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UK Retail Sales Rise Unexpectedly In July

UK retail sales grew unexpectedly in July, data from the Office for National Statistics revealed Thursday.

Retail sales volume grew 0.2 percent in July from June when sales advanced 0.9 percent. Sales were forecast to drop 0.2 percent.

Likewise, excluding auto fuel, sales gained 0.2 percent versus 0.8 percent increase in June. This was also in contrast to the expected fall of 0.2 percent.

Food store sales remained flat, while non-food store sales declined 1.4 percent. At the same time, non-store retailing grew 6.9 percent.

On a yearly basis, growth in retail sales volume slowed to 3.3 percent in July from 3.8 percent in June. Economists had forecast 2.5 percent increase.

Excluding auto fuel sales, retail sales increased 2.9 percent after rising 3.6 percent in June. The pace of growth exceeded the expected 2.3 percent.

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