Friday, February 16, 2007

The interest rates are hitting the tiny margins on the high street

High street suffers shock 34pc dive

Shopkeepers experience worst monthly slump in the value of goods sold in over 20 years as interest rate rises bite.

Posted by what-ho! @ 09:55 AM (508 views)
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7 thoughts on “The interest rates are hitting the tiny margins on the high street

  • This shock horror story doesn’t seem to correspond with the info on the Office Of National Statistics website, which is characteristically dull:
    “Underlying growth in retail sales volume slowed in January as sales fell back after a strong December, but remained robust when compared with the long-run average… etc. etc.”
    3 possibilities:
    1) the ONS is deliberately concealing bad statistics
    2) the daily torygraph is making stuff up
    3) I’ve read the wrong article!

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  • tyrellcorporation says:

    If this is true it’s the best of both worlds for Gordon Brown (again). Pay rises are the highest in 8 years so there will be enough in pay packets to pay for council tax and more taxation and a worsening high-street climate will allow policy makers to keep IRs low.

    Is Brown going to fluke it yet again?!?

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  • Lies
    Damn Lies
    Statistics from Gordon Brown.

    I really don’t think the 3rd Reich could have buggered up our economy as well as Mr Brown and his friends have. Futher more, they were rank amateurs in the lies and propaganda department compared to Brown.

    How can a 0.25% hike have such a bad effect if the economy is so robust?

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  • Rationalinvestor2007 says:

    That’s a highly misleading statistic.

    Yes, it was a weak month for the high street, with underlying sales volumes down more versus the previous month than in previous years, but the 34% number is totally misleading.

    Obviously the value of sales will be down by a large amount in January, because January is when most of the sales happen, and by their nature, sales involve price cuts of 25-50%.

    January sales have been around for years, and are an effective way of segmenting the market for retailers. They don’t mean the retail market is collapsing. So this is shoddy, sensationalist journalism.

    Fine, report the fact that the underlying volume trend is a bit weak, but this kind of nonsense scaremongering shouldn’t be endorsed. The telegraph is meant to be a respectable newspaper

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  • when will Joe Public wake up and realise that this Liebour government are a bunch of crooks!!!

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  • This just proves how high house prices are bad for the economy, as all the equity loans are used up and all the money is going into the mortgage so no free cash to spend, hence Recession.

    But Joe Public is being incredibly selfsih it is your duty to get more into debt to keep Crash Gordons “Spin and Bs economy going” atleast until he can get into number 10. Please stay longer Tony just to make Gord more and more worried that he will be at Number 11 when it all goes south.

    I may put a silly bet on Labour joining with the Tories on a No-Confidence motion just to get Gordon in….

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  • Retailers will only weather falling high street sales for about 3 months, if the trend continues past easter expect to see shops closing branches to minimise losses from their worst branches. The unfortunate employees will be left out in the cold, unemployment will rise and the circle will perpetuate itself into a recession. Reminds me of the late 1970’s and that old Specials ditty ‘this town is comin like a ghost town, all the shops are bein closed down’. We are in danger of history repeating itself, though I can’t see Cameron being dressed up as a new Mrs T.

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