UK retail sales unexpectedly rebound 1.1% m/m in March (GBP turns higher)

• The UK retail sales jumped by 1.1% m/m in Mar.
• The core retail sales in the UK rebounded by 1.2% m/m in Mar.

The UK retail sales jumped 1.1% over the month in March, surprising the markets to the upside while core retail sales stripping the auto motor fuel sales also unexpectedly rose 1.2% m/m.

On an annualized basis, the UK retail sales raced 6.7% in March versus 4.6% expected while the core retail sales also advanced 6.2% in the reported month versus 4.0% previous and 3.8% expectations.