U.K. retail sales disappoint

|By:, SA News Editor

U.K. consumers pulled back on spending in August, data shows.

Retail sales volumes fell 0.9% last month, defying analysts' expectation of a 0.4% gain.

One BNP Paribas economist quoted by BBC called the figure "one of the weakest prints on the economy for some time" and suggested expectations for the country's recovery may have gotten ahead of themselves although the outlook remains broadly positive.

Sterling fell in response, down 0.46% to 1.6069

FTSE +1.3% tracking global gains.

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