Thursday, Sep 18, 2008
We've got Loadsamoney
BBC: Surprise rise in UK retail sales
UK retail sales unexpectedly jumped in August, figures from the Office for National Statistics (ONS) show. High street sales rose 1.2% in August to stand 3.3% higher than a year ago. Analysts had expected a 0.5% drop after a swathe of gloomy surveys.
Posted by alan @ 12:18 PM (833 views) Add Comment
13 Comments
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1. bystander said...
so no need for a rate cut then. We all seem to be fine:)
2. icarus said...
Total sales are adjusted for inflation. Could this 'rise' in sales be due simply to the inflation deflator's being too small, i.e inflation is higher than the government says it is?
3. beartil2010 said...
If so, then we'd be like America, regularly spending less each month and year but it looking like we were spending more so everyone 'feels good' while the whole economy goes down the drain.
Lies, damn lies... and statistics.
4. icarus said...
...another possibility is an increase in shopping in the UK by Europeans taking advantage of the weak £.
5. Bored@work said...
Actually, if you think back to a year ago, the UK was suffering from massive flooding and an outbreak of foot and mouth. If I recall correctly, the retail figures for August 2007 took a massive hit as a result, something like down 1% on the previous month. That retail sales are 3.7% better than a crap figure from a year ago only means that its measurably less crap, 3.7% less crap in fact.
6. Fred56 said...
Book cooking or incompetence?
7. Mr Plumbase said...
Remember when the health of the economy was judged on the on the balance of trade? Not on how much we spent on foreign made trinkets flogged in the high street.
My, how we've fallen.
8. Bricksnmortarhaha said...
Inflation hedging in the form of spend it while you've still got it?
9. Doghouse said...
Howsabout when people were out shopping for their kiddies' school uniforms (with their credit cards) they thought 'blow it, is this all I slog my guts out at work for' and put a few pairs of shoes and new outfits on the credit card for themselves. The article didn't say how much of the spending was put onto credit cards!!!!! Maybe some folks are so debt ridden that a few more grand won't make any difference to them anymore!!!
10. little professor said...
Ridiculous. This is getting beyond a joke.
11. Discopants said...
as 4 with the adition of more brits holidaying in the UK this summer due to money worries and the weak £
12. plato said...
All down to the sale of Baked Beans.
13. landofconfusion said...
> 3. beartil2010 said...
>
> Lies, damn lies... and statistics.
Don't you mean:
Lies, damn lies... and CPI ?