Wednesday, Aug 30, 2006
...It's all looking rosy for more IR hikes!
BBC: Summer sales spree for UK stores
UK retailers enjoyed their strongest sales growth in one and a half years during August, despite the recent rise in interest rates, the CBI has said.
Its latest distributive trades survey confounded expectations of a post World Cup dip, with 45% of retailers saying sales were up and 33% reporting a fall.
The positive balance of 12% is the best since December 2004 and the CBI now expects similar growth in September.
It said stores were doing less heavy discounting and were raising prices.
Posted by tyrellcorporation @ 04:20 PM (179 views) Add Comment
3 Comments
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1. Thesqueeze said...
oh dear, best raise rates again....it's the only way...!
2. kpjcomp said...
If this is true, what's the bets the BOE will need to rise again on 7th Sept?
And proves that 0.25% rise is too little too late, BOE you better start thinking 0.5 to 1% rise next Sept,
as we've found with the FED 0.25% increases are too soft. (yes I know it's unlikely the bank will do the right thing, but heh you never know!!).
3. The Bald Man said...
I wonder where all the money is coming from? Re-mortgaging houses?