Wednesday, May 09, 2007
'Convenient' retail sales data ahead of rate decision meeting
BBC News: UK retail sales slow during April
UK retail sales growth slowed in April, official industry data has shown. Sales rose by 2.4% last month, compared with a 6.8% increase in the same period a year earlier, according to the British Retail Consortium (BRC).
Posted by webmaster @ 06:51 AM (376 views) Add Comment
8 Comments
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1. Funkydung said...
The usual BBC spin to influence (downwards) the rate decision tomorrow, but they are also running a story on how consumer confidence is growing:
Consumers 'shake off' rate rises - http://news.bbc.co.uk/1/hi/business/6636553.stm
Do we finally have some balanced reporting from the Beeb, or are they just playing it safe?
2. paul said...
This is deceptive lies.
The rate of growth has slowed. Retail sales aren't slow at all. This is like shifting from 80mph to 70mpg and saying to a policeman "I'm traveling slow now".
The trouble is if the policeman is particularly stupid (as is the MPC about these things) then they might just believe it.
3. headmelter said...
Ah just in time.
4. tyrellcorporation said...
In the sophisticated world of VI PR and spin, all these dubious surveys seem to be appearing closer and closer to the MPC meetings. I don't think other countries have this to the same extent and this is why I think the UK market will be the last to pop.
5. dohousescrashinthewoods said...
Ha ha ha! Have a look at this on the FT. Someone is spinning:
"Sun boosts sales on the high street"
http://www.ft.com/cms/s/a313de60-fdca-11db-8d62-000b5df10621.html
"A sunny April boosted sales of clothing and "outdoor" goods at the expense of "indoor" items such as carpets and home accessories, a survey released on Wednesday shows.
The latest monitor of high-street activity from the British Retail Consortium says sales in April were 4.7 per cent higher than for the same month last year."
Same press release, different message?
What is the Ministry of Truth up to?
6. dohousescrashinthewoods said...
@Paul: seems it's like going from 80 to 90mph but telling the copper that your "acceleration" has decreased.
7. royston said...
2.4% in April? That's 33% annualised, isn't it?
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