UK retail sales dropped -0.5% in May, ex-auto fuel dropped -0.3%

UK retail sales data for May came in mixed. No sector reported growth during the month. But the contraction was not as bad as expected.

• Retail sales including auto and fuel: -0.5% mom, 2.3% yoy versus expectation of -0.5% mom, 2.7% yoy.
• Retail sale excluding auto and fuel: -0.3% mom, 2.2% yoy versus expectation of -0.5% mom, 2.4% yoy.

Full release here.

EUR/GBP has little reaction today the data. The cross pulled back this week after ECB President Mario Draghi hinted on more monetary stimulus earlier this week. For now, it’s holding on to 0.8871 minor support.