Thursday, Oct 19, 2006

Experts surprised by drop in retail sales

BBC: UK retail sales show surprise dip

ONS state that sales fell 0.4% in September from the previous month.
"Consumer spending is one of the main drivers of UK economic growth and there have been concerns that it could wane", the BBC report states.

Posted by denzil @ 11:51 AM (469 views)
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1. Steve1 said...

Retail has done well for a long time. M&S, Next et al have done well on cheap imported goods priced very highly. All the benefits of outsourcing gone to shareholders.

Profits from my house sale two years ago have not not bought a single item from these outlets.

Lacoste open new outlet in Lakeside and wanted 120 for shirt with Fabrique en Chine label. Wow obviously the Middle Kingdom is no longer a cheap supplier then!

Expect profit warnings from Retailers. The big mark ups are over. Unless you know someone who will pay over a ton for a shirt that cost 0.33p to make.

Thursday, October 19, 2006 04:24PM Report Comment

2. japanese uncle said...

"Surpise dip" humph! What's really surprising is this fake economy is kept booming for such an incredibly long time, without significant value creators!!

Thursday, October 19, 2006 04:30PM Report Comment

3. Mr Dubai said...

In the "housing always goes up" mentality it appears that people are making priorities in the folowing order (1) allocate as much cash as I can to a mortgage because that will (hoho) always makes me money (2) reduce credit cards because the APR is higher than a mortgage, ignoring debt duration, then (3) personal retail spending. So no surprise retail spending will be squeezed first.

Thursday, October 19, 2006 07:13PM Report Comment

4. sirgoogle said...

This is just the BBC VIs trying to psyc the MPC into not raising IR.

However this tiny bit of news cannot offset the inflation reports.

Thursday, October 19, 2006 10:15PM Report Comment

5. indiablue19 said...

Steve 1

I expect expenditure for clothes will be minimal anyway -- certainly if we follow the style set by Emperor Tony, we will need no clothes at all.

Friday, October 20, 2006 12:12AM Report Comment

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