UK retail sales unexpectedly rises 0.3% m/m in August

• UK retail sales rose 0.3% m/m in August, arriving way above market expectations.
• The core retail sales in the UK increased by 0.3% m/m in August.

The UK retail sales rose 0.3% over the month in August, surprising markets to the upside while core retail sales stripping the auto motor fuel sales also unexpectedly rose 0.3% m/m.

On an annualized basis, the UK retail sales rose 3.3% in August versus 2.3% expected while the core retail sales also ticked 3.5% higher in the reported month versus 4.0% previous and 2.5% expectations.