Tuesday, October 31, 2006

Retailers had a bad Octboer

Shoppers abandon their trolleys, CBI reports first retail sales drop since March

Retailers' sales volumes fell for the first time in seven months during October, defying expectations, though retailers remain optimistic for growth in November's sales - according to the CBI's monthly survey of distributive trades published today (Tuesday).

Posted by converted lurker @ 12:49 PM (20 views)
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2 thoughts on “Retailers had a bad Octboer

  • george monsoon says:

    “retailers remain optimistic for growth in November’s sales ”

    I will stick my neck out here and say that if interest rates are put up, even by 0.25% in November, that sales will drop even further, only because I have had to tighten my belt in the last few months with the increase in retail prices, fuel bills, utility bills etc.. and I am not even a homeowner.

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  • And yet mortgage borrowing is up and credit card spending is down, which implies people are having to borrow against the value of their property just to finance the CC debts they’ve already accumulated???

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