Friday, Nov 28, 2008
CBI - "a thawing of the housing market is remote"
Citywire: Scrooge reigns on the High Street as spending collapses
Retailers are preparing for a black Christmas as spending among consumer crumbles to a 25-year low. The Confederation of British Industry's (CBI) latest distributive trends survey revealed that the vast majority of retailers had posted lower numbers in the first half of November compared to a year ago. Its headline reading came in at -47, down from -27 in October to stand at levels seen in August when the survey hit its lowest level since starting in 1983. Looking forward, retailers are not expecting Christmas trading to alleviate much of the pressure they are under, with a -40% fall in year-on-year sales volumes expected.
Posted by jack c @ 02:15 PM (373 views) Add Comment
5 Comments
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1. last_days_of_disco said...
'The added pressure of changing millions of prices, to reflect the cut in VAT, will be an unwelcome and costly burden.'
Yip, that is the truth.
2. whostolemyendowment said...
I've often thougth that businesses that need the annual Christmas spendfest to survive - should not be in business.
3. fjcruiser said...
I have not seen large price cuts yet on wii, apple mac or elctricals I would love to buy ? When is deflation starting ?
4. whostolemyendowment said...
But Wii's, and apple macs are the new gold....think I'll buy Wii futures, or hedge some HP laptops...
5. jack c said...
My Son has requested a wii for Christmas and the price is virtually the same at all of the retailers ie roughly £175 - any further guidance welcome