Thursday, May 18, 2006
Retail sales recovered in April alleviating pressure for a near-term hike in interest rates
BBC: Retail sales data shows recovery
Howard Archer, chief European economist at research firm Global Insight stated that after consumers has taken a breather earlier in the year had returned to a limited extent.
Sales in the three months to the end of April were up by 0.1%.
Posted by denzil @ 12:28 PM (267 views) Add Comment
6 Comments
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1. jason said...
Here's the official release: http://www.statistics.gov.uk/pdfdir/rs0506.pdf
2. Uncle Fargas said...
This would surely increase the likelyhood of a 'rate hike' not alleviate it?
3. denzil said...
>>This would surely increase the likelyhood of a 'rate hike' not alleviate it?
Not if you are Howard Archer. Archer to my way of thinking is constantly well off the mark and blindly optimistic. I'm not an economist so I will bow to his judgement but I can't help thinking that he's talking rot.
4. Surfgatinho said...
I think I might apply for a job in the economics dept of the BBC - I'm sure I could edit the utter chaf out better than the current management do.
As Uncle Fargas points out strong sales should have the opposite effect. How many times have we heard the the Retail Consortium asking for a lowering in IRs due to weak sales??
5. Tyrellcorporation said...
It's that pesky '0.1%' again! The most widely used stat in economics today!!!
6. denzil said...
>>It's that pesky '0.1%' again!
Yep. I'm going to start placing bets on stats. That 0.1% is just too common to be true.