Thursday, March 22, 2007

Forex News: 22.03.2007 Retail sales in Great Britain were above expectations in February

The index of retail sales rose in Great Britain by 1.4% in February and by 4.9% in a year, the Office of National Statistics reported today. The index was far above expectations, because the analysts estimated the increase by 0.8% in a month and 4.0% in a year.

January reading of retail sales was revised and according to new estimates the retail sales fell in January by 1.5% and rose by 3.3% in a year.

Obviously, unexpected and substantial increase of retail sales will positively influence pound sterling, but the influence will be short term. In February consumer prices rose again, which may narrow retail sales next month.


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