Thursday, May 18, 2006
Retail sales recovered in April alleviating pressure for a near-term hike in interest rates
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 (653 views)
6 thoughts on “Retail sales recovered in April alleviating pressure for a near-term hike in interest rates”
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jason says:
Here’s the official release: http://www.statistics.gov.uk/pdfdir/rs0506.pdf
Uncle Fargas says:
This would surely increase the likelyhood of a ‘rate hike’ not alleviate it?
denzil says:
>>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.
Surfgatinho says:
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??
Tyrellcorporation says:
It’s that pesky ‘0.1%’ again! The most widely used stat in economics today!!!
denzil says:
>>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.