Thursday, Oct 18, 2007
Oh dear, oh dear - inflation needs to go up again
BBC: Retail sales strongest since 2004
UK retail sales rose by the strongest annual rate in three years in September, official figures show. The Office for "Notional" Statistics (ONS) said sales were up 6.3% from the same month a year earlier, the biggest gain since September 2004. Sales increased 0.6% from August, above analysts' expectations of a 0.1% rise.
Posted by uncle chris @ 10:52 AM (361 views) Add Comment
4 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. ontheotherhand said...
No this increase in sales is not inflationary since retailers cut prices. Any fool can increase sales on discretionary goods by cutting prices, but not without hitting their profits
"Heavy discounting by retailers spurred the increase in spending"
Retailers are trying to cut inventory
2. cornishman said...
@ontheotherhand - I agree. They are probably cutting inventory. For the first time in many years, I've had metal stockholders phoning me weekly wanting to know if I need anything from them. They did exactly the same before the last recessions also.
3. Albertini Albertino said...
Meh, if it causes another interest rate rise 'to stop people spending', then yay.
4. sold 2 rent 1 said...
cornishman,
So an article that says the economy is doing well, turns out to be forecasting a recession. It is possible to spin any news.