UK retail sales unexpectedly recovered in July as promotions boosted online sales, while consumer sentiment hit a new record low in August amid the deepening cost of living crisis caused by rising inflation and the bleak economic prospects, separate data revealed Friday.
Retail sales gained 0.3 percent on month, in contrast to the revised 0.2 percent fall in June. Sales were forecast to fall 0.2 percent in July.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.