A report released Thursday morning by the UK Office of National Statistics revealed a sluggish month for retail sales in the island economy. The impact so far has been to drag on the already-downtrodden British pound (GBP).
Expectations for the report were for a growth of roughly 0.3% in the ever-important retail sector. With today’s figure coming in near 0.2%, the slow-down is only confirming what many were expecting for the upcoming quarter; mainly, that manufacturing demand and consumer spending will see steady declines.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
