Friday, Sep 17, 2010
Collapse in high street sales for August
The Telegraph: Recovery hopes falter as retail sales disappoint
Britain's recovery hopes have suffered a sharp setback after surprisingly weak retail sales figures provided damning evidence that consumers are tightening their belts ahead of the Government's austerity measures.
A collapse in high street sales for August and stark warnings from some of the nation's leading retailers sparked fresh talk of a double-dip recession.
"The unexpected fall is a nasty shock and deals a significant blow to growth hopes," said Howard Archer, chief UK economist at IHS Global Insight. "It will likely fuel fears of a double-dip, given the importance of consumer spending to the economy."
Posted by devo @ 06:37 AM (441 views) Add Comment
2 Comments
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1. Crunchy said...
Do the banks have any idea who's causing all this?
2. Simon said...
I can't understand how our economic salvation is going to come about by worsening our balance of payments through splurging on more stuff we don't need from China .
It disgusts me when they give (sell?) knighthoods to retail magnates who push imported goods to the detriment of British Manufacturers .