2017.12.1404:58:00UTC+00UK Retail Sales Rise Most In 7 Months

UK retail sales grew the most in seven months in November, figures from the Office for National Statistics showed Thursday.

Retail sales volume climbed 1.1 percent on a monthly basis in November, with strong contribution from households goods stores. This was the biggest increase since April, when sales advanced 1.9 percent.

Sales were forecast to grow marginally by 0.4 percent after expanding 0.5 percent in October.

Excluding auto fuel, retail sales volume growth improved to 1.2 percent from 0.4 percent in the previous month. Economists had forecast a moderate 0.4 percent increase.

Food store sales increased at a faster pace of 0.6 percent and non-food store sales advanced 1.5 percent.

On a yearly basis, retail sales volume grew 1.6 percent after staying flat in October. This was much better than the expected 0.3 percent increase.

Likewise, excluding auto fuel, retail sales rose 1.5 percent versus nil growth in the previous month and the expected increase of 0.2 percent.