Thursday, May 18, 2006

Retail sales recovered in April alleviating pressure for a near-term hike in interest rates

BBC: Retail sales data shows recovery

Howard Archer, chief European economist at research firm Global Insight stated that after consumers has taken a breather earlier in the year had returned to a limited extent.
Sales in the three months to the end of April were up by 0.1%.

Posted by denzil @ 12:28 PM (625 views)
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6 Comments

1. jason said...

Here's the official release: http://www.statistics.gov.uk/pdfdir/rs0506.pdf

Thursday, May 18, 2006 01:05PM Report Comment
 

2. Uncle Fargas said...

This would surely increase the likelyhood of a 'rate hike' not alleviate it?

Thursday, May 18, 2006 01:21PM Report Comment
 

3. denzil said...

>>This would surely increase the likelyhood of a 'rate hike' not alleviate it?

Not if you are Howard Archer. Archer to my way of thinking is constantly well off the mark and blindly optimistic. I'm not an economist so I will bow to his judgement but I can't help thinking that he's talking rot.

Thursday, May 18, 2006 02:07PM Report Comment
 

4. Surfgatinho said...

I think I might apply for a job in the economics dept of the BBC - I'm sure I could edit the utter chaf out better than the current management do.
As Uncle Fargas points out strong sales should have the opposite effect. How many times have we heard the the Retail Consortium asking for a lowering in IRs due to weak sales??

Thursday, May 18, 2006 02:48PM Report Comment
 

5. Tyrellcorporation said...

It's that pesky '0.1%' again! The most widely used stat in economics today!!!

Thursday, May 18, 2006 03:08PM Report Comment
 

6. denzil said...

>>It's that pesky '0.1%' again!
Yep. I'm going to start placing bets on stats. That 0.1% is just too common to be true.

Thursday, May 18, 2006 03:41PM Report Comment
 

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