Tuesday, April 28, 2009
A proud nation of shoppers
Retail sales far stronger than expected
LONDON (Reuters) - Retail sales unexpectedly jumped at their sharpest rate in more than a year in April but the figures may have been distorted by the timing of Easter, a survey showed on Tuesday.
Posted by holding out @ 11:52 AM (991 views)
5 thoughts on “A proud nation of shoppers”
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japanese uncle says:
As opposed to the ‘deflatioon’ charlatan chorus, consumers visiting shops and superstores everyday are worried about inflation, hence, the sooner, the cheaper mentality prevails, boosting the retail sales for the moment, but for how long?
peter_2008 says:
I am puzzled where this money comes from. Where is the next wave of credit crunch? the mass default on credit cards?
Maybe GB is secretly handing out hot-off-press-machine money on street to people?
Chris says:
Fantasy island continues. Is the UK totally cracking up? Are people getting rid of their money before King and Brown make it worthless? Will Brown be raising unemployment benefit to £200 a week just as a way of distributing all this money they are printing? It can’t continue. Suspect something really bad will happen soon. Is the IMF our only hope?
tyrellcorporation says:
Slashing mortage rates has had some effect IMO. The friends I have who own a house and still have a job are actually feeling quite flush right now. Although my rent stays at £975 a month (and my ability to pay this shrinks as my interest dwindles), my friend’s mortgage has gone from about £650 to £340 a month. This is probably being repeated across the land.
Spending may well rise short term but the booming black clouds of higher interest rates and higher taxes are looming fast.
inbreda says:
I agree with tyrell. The sort of irresponsible people who borrow large amounts of money and spend, spend spend, are the ones that are benefiting from Gordons rigging of interest rates. This will be short-lived IMO. It is merely storing up trouble for the near future when interest rates inevitably have to rise and these massively over indebted people all go bankrupt.