Thursday, Dec 18, 2008
Hmmmm?
Timesonline: Retail sales unexpectedly rise 1.5% in November
Official figures this morning showed an unexpected rise of 1.5 per cent in retail sales in the UK last month. British retail sales rose 0.3 per cent in November, and are up 1.5 per cent on last year, according to the Office for National Statistics.
A 3.9 per cent rise in sales of household goods, the biggest monthly increase since July 2007, fuelled the growth. Food sales were up 0.2 per cent, but clothing and footwear sales dropped 0.5 per cent.
Posted by flintster1994 @ 11:01 AM (965 views) Add Comment
11 Comments
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1. flintster1994 said...
These stats must be suspect. eople are surely maxed out. Or is the final blow off before the real pain begins in 2009?
2. pelethar said...
Oh well. Let's slash interest rates anyway.
3. holding out said...
As the pound has fallen so dramatically it now makes sense for holders of other currencies to do their shopping in the UK. Our number one industry wants to live!
4. drewster said...
What holding out says.
Newly unemployed foreign bankers are buying cheap Christmas presents before leaving London for good.
I'd like to see a regional breakdown of those figures. If it really is tourists then only some areas will be doing well.
5. paul said...
I've always thought it rather silly and perverse that the amount of stuff we buy should continually increase year on year, otherwise we are in recession.
The British Retail Consortium figures appear to be based on the premise that "if we're not making more and more profit each year, something has to be done!"
6. need-a-crash said...
Every Christmas for the last 5 years we've had announcements about retailers struggling... and every year by the time the figures are out in January... they've done ok!
I really wouldn't be surprised if they ended up doing OK this year as well.
7. Charmless Man said...
What most people don't realise is that in real terms a 1.5% rise is a fall in real terms, even when you use the government's own inflation figures.
The only reason retail sales have shown a small rise on last year is down to foreign shoppers exploiting the weak pound.
8. Neo-serf said...
This is rubbish - utter Fudge rubbish.
9. shipbuilder said...
5. paul said...
"I've always thought it rather silly and perverse that the amount of stuff we buy should continually increase year on year, otherwise we are in recession."
And that's the key to everything, Paul, not just retail. Why does our economy work like that, and does it have to?
10. Eternal Sceptic said...
Could it be that the real rate of inflation has finally burst on the scene and the spinologists suffered an early release of data. A bit like knife crime a few days ago.
11. Natasha's Dad said...
We are talking VOLUME not price.
I went shopping last week and was amazed at the price reductions- I almost wanted to pay them more than they wanted for their goods but managed to hold myself back.
AND that is not counting twofors and BOGOF - all increase sales VOLUME presumably but do not help the cash position.