Economic Buzz: UK retail sales rise in August

UK retail sales increased for the third straight month in August, the Office for National Statistics reported Friday.

Retail sales volume increased 0.5 percent in August from a month ago. This followed a similar revised 0.5 percent increase seen in July and outpaced economists' forecast of 0.4 percent gain. Moreover, this was the third consecutive increase.

Excluding auto fuel, growth in retail sales doubled to 0.8 percent from 0.4 percent in July and came in stronger than the forecast of 0.6 percent.

Clothing stores, butchers and bakers, and non-store retailing grew in August, which some retailers attributed to the good weather, the ONS said.

On a yearly basis, retail sales logged a growth of 0.7 percent after rising 0.8 percent in the previous month.

Excluding auto fuel, retail sales growth accelerated to 1.2 percent from 1.0 percent in July.

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