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Uk Retail Sales Stagnate, Adds To Gloom On Economy

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http://www.telegraph.co.uk/finance/economics/8708617/UK-retail-sales-stagnate-adds-to-gloom-on-economy.html

The Office for National Statistics said sales volumes, excluding petrol, rose just 0.2pc in July from the previous month and were flat year-on-year.

Analysts had forecast a rise of 0.3pc on the month and an equal annual rise, as retailers slashed prices aggressively in summer sales.

Victoria Cadman of Investec said: "It's another set of disappointing data, with the UK consumer limping along at best. What leaps out is that consumers are unwilling to spend on big ticket items - household goods are down 4.1pc on the year.

....

Excluding fuel, retail sales also grew by 0.2pc on the month and were 0.2pc lower than in July 2010.

I mean who would have expected this, the debt tap turned off and sales stagnating.

Viva recovery.

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http://www.telegraph.co.uk/finance/economics/8708617/UK-retail-sales-stagnate-adds-to-gloom-on-economy.html

I mean who would have expected this, the debt tap turned off and sales stagnating.

Viva recovery.

Well we obviously don't have enough debt do we? After all QE made everything better last time around, so expect plenty more from the Central banks BECAUSE THEY HAVE NO ANSWER to the overborrowed syndrome sweeping across the west. Why doesn't the Govt ask Mr Brown if he'd like to save the world again - you know borrow about £200BN in one hit and pump it around like an out of control firehose? I wonder if history lessons will actually mention it all, or will a small group of politicians outlaw a discussion on how not to max out a country? Do you think Cameron and Osborne are holding cash and if so what currency? Guessssssss!

I did tell you about 6 weeks ago that an insider tipped me off that retail sales, even for large Co.s like M&S had turned very weak indeed - 'off a cliff' was the expression.

Edited by plummet expert

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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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