Thursday, September 17, 2009

More like a fall to me..

No change in August retail sales

Retail sales had been expected to rise by 0.1% in August, but in fact were unchanged from July. No big deal? - but hang on, they've revised down the July figure from 0.4% to 0.2%. Honest correction? - or a great way to conceal a fall?

Posted by uncle tom @ 09:57 AM (868 views)
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5 thoughts on “More like a fall to me..

  • I would say this is very interesting in respect a lot of people decided not to go on holiday this year, so if they were in the UK either at home or out and about how come retail sales are static or even dropped?? Have people finally run out of credit or cash… Did anyone see the food banks on TV yesterday in the south of England, handing out free food to families, not something I remember from the last recession

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  • Is it me or is this badly written…

    The first sentence says the figures were the same as last month, then the second sentence says that last months figures were wrong. So are the numbers for August the same as the right July figures or the wrong ones?

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  • letsgetreadytotumble says:

    This has happened before at the start of the recession. I remember the retail trade complaining that the figures were too optimistic, and the figures were revised downwards, just like now.

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  • Manorhouseowner says:

    What a fiddle. Well said. So they are the same as July, but only if we revise the figures down for July. Unbelievable.

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  • A lot of monthly statistics are released too early, based on a subset of data, leading them to be restated when new information comes in. The most notorious are GDP and inflation, which are of course interrelated. The immediate information comes from large businesses, while the data for the small business sector doesn’t show up until the yearly returns go in. It’s why the US didn’t declare a recession until nearly a year after it started – and why I’m very skeptical of claims of recovery.

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