UK retail sales rebounds 0.7% m/m in July, a big beat on expectations

• UK retail sales rose 0.7% m/m in July, arriving away above market expectations.
• The core retail sales in the UK jumped 0.9% m/m in July.

The UK retail sales rebounded 0.7% over the month in July, coming in way above the market expectations while core retail sales stripping the auto motor fuel sales also rose 0.9% m/m.

On an annualized basis, the UK retail sales rose 3.5% in July versus 3.0% expected while the core retail sales rose 3.7% in the reported month versus 2.8% previous and 2.9% expectations.