Thursday, Oct 22, 2009

Consumers underwater! (And the weather was very good in September)

Times: British retail sales fall flat in September

Retail sales remained flat in September, confounding analysts' expectations that the figures would show a monthly pick-up amid growing optimism about the economy.
The Office for National Statistics (ONS) said that sales volumes failed to grow last month, for the second consecutive month, with the steepest decline in clothes and shoe sales, which were down by 0.5 per cent from August. Food sales were down by 0.1 per cent, while sales in non-specialised stores such as department stores, were up 0.5 per cent.

Posted by tyrellcorporation @ 11:22 AM (904 views)
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1. Unbelievableeddie said...

The sun, that mystical thing in the sky, not the paper is the reason for the increase in purchases over Summer, not a recovery...

In the UK, people go a bit crazy with a bit of sunlight.

Thursday, October 22, 2009 11:59AM Report Comment

2. mr g said...

"Retail sales remained flat in September, confounding analysts' expectations that the figures would show a monthly pick-up amid growing optimism about the economy"

Just another item to add to the list that these clowns get wrong as I posted on Tuesday 20 October:

2. estrader said...
Who are these "experts" and where were they 3 years ago?
6. mr g said
@2 "Who are these "experts" and where were they 3 years ago?"

I have asked the same question umpteen times. Inflation, unemployment, industrial output, interest rates, etc, etc ad nauseam. You name it, they get it wrong and get handsomely paid for doing so.

Thursday, October 22, 2009 01:09PM Report Comment

3. crunchy said...

1. mr g

I think if one were to look into these experts investment porfolios one would see quiet a different picture.

The words whore and media spring to mind.

Thursday, October 22, 2009 01:42PM Report Comment

4. need-a-crash said...

Good point tyrellcorp - the weather was indeed exceptionally good in September and good weather always does get people spending more, yet strangely it doesn't get a mention by the VI Times. They should point out that the flatline in spending was essentially a fall if it wasn't for the weather.

Thursday, October 22, 2009 02:36PM Report Comment

5. timmy t said...

I always thought they spun the weather to work for them either way - it was raining so nobody left their house, or it was sunny so everyone went to the beach...

Thursday, October 22, 2009 03:40PM Report Comment

6. tyrellcorporation said...

My experience in Exeter is that Ladies-wot-Lunch (the bedrock of the UK economy) flock to the centre of the city when the weather is good and eat and drink themselves to a cackling crescendo. Ironically they tend to be surrounded by Big Issue sellers crouched in the gutter - ahhh, Brown's Britain in full swing!

Thursday, October 22, 2009 04:25PM Report Comment

7. general congreve said...

Open letter to Debenhams:

Hi Debenhams,

Firstly I'd like to say thanks very much for the near daily updates that I've been receiving from you in 2009 regarding all your sales that are ending soon. It's great to be kept informed.

However, thinking about it we could both save ourselves a lot of trouble if you announced a permanent sale and then just let me know with one email when it really, I mean really, has ended, or you go bust, whichever happens first. Less work for you, less work for me.


General C.

Thursday, October 22, 2009 06:30PM Report Comment

8. estrader said...

"Howard Archer, chief economist at Global Insight, said: "The data reinforces the suspicion that consumers still need significant encouragement to put their hands in their pockets and spend."

No, this reinforces the suspicion that "experts" are completely out of touch with the real world!

Unbelievable..."experts" get it wrong and the "consumer" is to blame...Howard Archer are you a "consumer"? Yes, No, Maybe...are you spending and borrowing like mad? What about asking your next door "consumer" [barcode number 135689786 Use by 10/12/2015]???...Or do you actually refer to them as your neighbour, friend, aunt.... I am going to ask my "consumers" at work and find out if they are borrowing and spending like mad...I will see if I can clear up your obvious misunderstanding about "consumers".

If house prices start to really crash will this confuse you Howard? Would say that “dwellers” have confounded your expectations and obviously need significant encouragement to purchase a habitat?

Thursday, October 22, 2009 08:00PM Report Comment

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