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UK retail sales for August down on previous estimate

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UK retail sales fell by 0.2% month-on-month in August, according to the latest data out from the Office for National Statistics (ONS).

However, in year-on-year terms total retail sales grew by 2.7%.

June’s reading has also been revised down to show a rise of only 2.3%, instead of the preliminary estimate of 2.8%.

Core sales, which exclude oil, dropped 0.3% month-on-month, as forecasted, and increased at a 3.1% year-on-year pace.

This is revision down from the previous month´s reading from 3.3% to a growth of 2.8%.

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