Investing.com - Retail sales in the U.K. rose less than expected in June, dampening optimism over the country’s economic outlook, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said retail sales increased by a seasonally adjusted 0.1% last month, below forecasts for a 0.3% gain. May retail sales fell by 0.5%.
Year-on-year, retail sales rose at an annualized rate of 3.6% in June, below expectations for a 3.9% gain, after rising at a rate of 3.7% in May.
Core retail sales, which exclude automobile sales, declined by a seasonally adjusted 0.1% last month, compared to forecasts for a 0.3% gain, after falling 0.5% in the preceding month.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.16% to trade at 1.7018, compared to 1.7040 before the data.
Meanwhile, European stock markets were mixed. London’s FTSE 100 dipped 0.1%, the DJ Euro Stoxx 50 rose 0.4%, France’s CAC 40 tacked on 0.3%, while Germany's DAX picked up 0.2%.