Friday, February 19, 2010

Consumer economy on slippery slope

UK retail sales suffer sharp fall on snowy weather

Poor winter weather drove UK retail sales down by 1.8% between December and January, the sharpest drop in 18 months, official figures have shown. The fall was more than three times faster than analysts had forecast.

Posted by jack c @ 10:05 AM (1300 views)
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8 thoughts on “Consumer economy on slippery slope

  • That darn snow. No wonder Iceland has been having all those problems.

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  • Jonathan Loynes, chief European economist at Capital Economics said, “Of course, we knew the January sales figures would be bad after the VAT rise and bad weather. But the drop is even worse than the retail surveys had suggested.”
    – yet the BBC still use the headline “UK retail sales suffer sharp fall on snowy weather” AND place a picture of snowy weather in the article AND start their summary, “Poor winter weather drove UK retail sales down”.

    Aside, RE Double dip.
    The growth of 0.1% reported by the preliminary report from the NSO means there was probably growth, but not with a very high degree of confidence at all. For some information more detail on this see: http://www.statistics.gov.uk/articles/nojournal/QualityofEarlyGDP.pdf.

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  • * “more detailed information” even.

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  • That’s right.. it’s the snow that’s to blame.. nothing to do with people having no money..

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  • But inflation is rising in spite of falling sales?

    Harare On Thames looms large …

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  • BBC = Biased Broadcasting Company.

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  • Brown’s Boadcasting Corporation?

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