by ForexNewsNow Team on September 16th, 2010

Indicator analysis: U.K. retail sales drop unexpectedly

NEW 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.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.