UK Retail Sales Rise 4.2% in June, Beating Forecast of 2.3%

According to the UK Office for National Statistics, retail sales in the UK increased 4.2% year-over-year in June, significantly exceeding the market forecast of 2.3%. Month-over-month, June retail sales grew 1.0%, surpassing expectations of a 0.3% decline. The Office for National Statistics attributed the stronger-than-expected performance to promotional activities and warm weather in May and June, which boosted non-store and apparel retail sales. Q2 retail sales rose 0.6% compared to Q1.
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