By CountingPips.com
Retail sales data released today out of the United Kingdom showed that sales rose by slightly more than expected in October. The UK retail sales data, released by the U.K. Office of National Statistics, advanced by 0.5 percent in October following a decrease of 0.5 percent in September. October’s rebound in retail sales marks the first positive reading in three months.
On an annual basis, retail sales decreased by 0.1 percent from the October 2009 time period. The sales data just surpassed monthly market forecasts, which were predicting that sales would increase by 0.4 percent.
Retail sales, excluding automotive fuel, increased by 0.3 percent in October after registering a 0.3 percent decrease in September. Sales minus fuel was above market forecasts that were expecting a 0.2 percent rise for the month.