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by ForexNewsNow Team on September 16, 2010

Indicator analysis: U.K. retail sales drop unexpectedly

indicator analysis - retail salesNEW YORK (Forex News Now) – Retail sales in Britain dropped unexpectedly in August, official data showed on Wednesday in one of the day’s major realtime FX news events.

In a report likely to impact online FX trading, Britain’s Office for National Statistics said retail sales, a key indicator of consumer spending, dropped 0.5 percent during the month, after a downwardly revised increase of 0.8 percent in July.

Analysis had expected a modest rise of 0.3 percent in August, according to two currency market trading news outlets.

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