UK Retail Sales Rise to 2.4% Annual Growth in August

UK retail sales volumes rose 0.5% mom in August, beating expectations for a 0.3% contraction and reversing July's 0.5% decline. Annual growth accelerated from 1.2% to 2.4%, above the 1.9% consensus, with non-food stores driving recovery. The three-month measure also strengthened to 2.4%, signalling improving domestic demand and supporting GBP strength.