U.K: retail sales up by 0.9%…

Friday, 17 February 2012 02:16

The U.K. Office for National Statistics reported today that country’s retail sales increased unexpectedly in January despite economists’ expectations for lower reading (down by 0.2%)

Retail sales grew by 0.9%, right after 0.6% improvement in previous month.

Today’s positive reading as well as slowing down inflation might indicate recover of British economy in first quarter of 2012.

Following news release GBP/USD was traded at 1.5842.