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2017.08.1704:56:00UTC+00UK Retail Sales Rise More Than Forecast

UK retail sales increased more than expected in July on food store sales, data from the Office for National Statistics revealed Thursday.

Retail sales volume grew 0.3 percent month-on-month in July, the same rate as logged in June. Sales were expected to rise at a slower pace of 0.2 percent.

Excluding auto fuel, retail sales climbed 0.5 percent after rising 0.6 percent in June. This was also faster than the expected 0.1 percent.

On a yearly basis, retail sales volume growth slowed to 1.3 percent from 2.8 percent in June. Economists had forecast 1.4 percent annual growth.

Likewise, sales excluding auto fuel, grew 1.5 percent, weaker than June's 2.8 percent increase, but better than 1.2 percent forecast.

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