Despite the high inflation, UK retail sales growth accelerated more than expected in June as good weather boosted food and non-food store sales, the Office for National Statistics reported Friday.
However, survey results from the market research group GfK showed that the consumer confidence weakened for the first time in six months in July. Separate data from the ONS today showed that the British budget deficit undershoot the government estimate in June. However, the deficit remained the third-highest for the month since records began in 1993.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.